Egypt median o/n interbank rate steady at 8.35 pct
CAIRO: The median overnight interbank rate on Egypt s pound was 8.35 percent on Thursday, with market conditions little changed from Wednesday when the rate was 8.399 percent, bankers said.Four…
A chronology of the Sudanese protest crisis
CAIRO: Sept. 29: A small group of around 20 Sudanese refugees, asylum seekers and failed asylum seekers begins a sit-in protest in a park in central Cairo, close to the…
Money changers stop dealing in Danish crowns
CAIRO: Money changers in Egypt will not accept Danish or Norwegian crowns in protest over cartoons of the Prophet Mohammad that appeared in newspapers in those countries, a professional association…
Protesters warned their lives were in danger
CAIRO: A preliminary report detailing the forced breakup of a Sudanese refugee sit-in at a park in Mohandiseen says protesters were given ample warning by security officials to leave peacefully…
A solid turnout
CAIRO: The Orascom companies are experiencing a good week, following a good year. Mobinil, one of the companies under Orascom Telecom Holding (OTH), announced yesterday their full year 2005 results,…
A million little lies
CAIRO: I wake to the drone of an airplane engine and the feeling of something warm dripping down my chin. I lift my hand to feel my face. My front…
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,…
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…
CIB acquisition finalized
CAIRO: The sale of 18.7 percent of Commercial International Bank (CIB) to a consortium of investors was announced yesterday in a deal worth approximately $230 million.All regulatory approvals for the…
Cargo ship blocks all traffic in the Suez Canal
CAIRO: A 93,000-ton cargo ship blocked the Suez Canal on Wednesday, stopping all transit of the waterway between the Mediterranean and the Red Sea, a Suez Canal Authority official said.Four…