Egypt median o/n interbank rate creeps up to 8.4 percent
CAIRO: The median overnight interbank rate on Egypt s pound ticked up to 8.4 percent on Wednesday from 8.385 percent on Tuesday, traders said. The rates are slightly higher, but…
EFG-Hermes helps drag down stocks
CAIRO: Egyptian investment bank EFG-Hermes helped drag Egyptian stocks down on Wednesday as retail investors sold ahead of a planned capital increase, traders said.The benchmark Hermes index fell 2,560.24 points,…
Captain refused to help sinking Red Sea ferry
CAIRO: The captain of a Red Sea ferry has admitted that he steered clear of a doomed ship that sank between Saudi Arabia and Egypt last week, leaving at least…
Nour's wife denied visitation rights
CAIRO: Ayman Nour's wife and El-Ghad party spokesman, Gamilla Ismail, was prevented from visiting her husband, who is currently in the midst of his sentence in Tora Mazraa Prison; Ismail…
Ripplewood to buy stake in Egypt's CIB
CAIRO: A group led by U.S. fund Ripplewood Holdings will buy an 18.7 percent stake in Egypt s Commercial International Bank (CIB) for $227 million to $244 million, a banking…
Coca takes her designs overseas
CAIRO: As though competition within Egypt is not strenuous enough, Jaylan "Coca Ezzat has been providing her interior designing spaces to clients based outside of Egypt, and in other cases…
EFG Hermes awarded investment banking deal
CAIRO: EFG-Hermes, a key player on the Cairo and Alexandria Stock Exchanges and a mover and shaker in the industry, is lending its expertise to the MENA region, while at…
Sending mixed signals
CAIRO: A series of events have unfolded in recent weeks thrusting Muslims and their faith equally into the focus of the media. Islamic scholars, activists and moderates, however, caution that…
Despair for most
SAFAGA, Egypt: It was a long, unhappy weekend in Safaga.Ben Wederman was at breakfast. In person, he looks like Van Morrison. The rest of the media was there as well,…
Regulating a free market
CAIRO: Egypt s competition law was first drafted in 1995. Ten years later, after numerous revisions and modifications, the law was finally passed by parliament in February of last year.…
