Interbank rate falls to 8.10 percent
CAIRO: The median overnight interbank rate on the pound fell to 8.10 percent on Wednesday from Tuesday s 8.154 percent, with the market experiencing short-term liquidity, bankers said. Four of…
Sawiris sees Weather listing raising 2 billion euros
MILAN: Egyptian businessman Naguib Sawiris said on Wednesday he aimed to raise about 2 billion euros from the listing of Weather Investments, which controls Italy s second biggest mobile phone…
Public awareness, streamlined property registration key to growth of mortgage finance
CAIRO: The market mechanism of supply and demand requires certain rules, procedures and institutions to be in place in order to operate properly, and the Egyptian housing market is an…
EAB Q1 net profit down 27.5 percent
CAIRO: Egyptian American Bank (EAB) on Wednesday posted a 27.5 percent fall in its first quarter net profit to LE 64.36 million ($11.15 million). EAB had a first quarter net…
UN expert praises Egypt's bird flu response
WASHINGTON: Egypt s quick response to bird flu shows that even less-developed countries can cope with limited outbreaks if they follow guidelines, the United Nations chief bird flu expert says.…
Painting a portrait of rebirth
CAIRO: When thinking of Algeria, most people remember the wars, the terror, the French invasion and unsettlement. The country has seen occupations by the Phoenicians, Romans, Moors, Jews, Ottomans and…
Spain's Cepsa gets exploration permit in Egypt
MADRID: Spanish oil and gas company Cepsa said on Tuesday it has gained a new exploration permit in Egypt s western desert enabling it to boost its exploration activities. After…
EFG-Hermes awarded Saudi license
CAIRO: The Capital Market Authority of the Kingdom of Saudi Arabia (KSA) granted EFG-Hermes a license to operate as an Investment Bank in the Saudi Stock Exchange on Monday. The…
Bahai's still banned after appeals court upholds government's claims
CAIRO: The court of appeals on Monday upheld the government's ban on recognizing the rights of Bahais to have their religion listed on identification cards and passports."I am disappointed that…
