EGX30 targets 7,900-8,000 points this week
Technical analysts predicted that Egyptian Exchange (EGX) will move sideways, dropping down during this week’s trading. EGX30 is expected to move between 7,900-8,000 points. Analysts pointed out that the EGX market…
Elsewedy Electric increases smart metering contracts portfolio to €148m supported by Gulf, European markets
The domestic market is expected to increase the Elsewedy Electric’s revenues as the wire and cable sector recorded a 17% annual increase in sales during the first half (H1) of…
EFSA agrees to grant Mubasher licence for managing investment funds
Company to hold an extraordinary general assembly to change its name to Mubasher for managing financial investments and increase its capital to EGP 5m
Turkey beefs up military presence in Syria
Turkey has launched a new effort to back rebels in northern Syria. More tanks crossed into the war-torn country to help opposition fighters battling the so-called "Islamic State" (IS).
Recovered Energy offers to modernise, enhance efficiency of 6th of October City’s power plant with $30m
The company will sell the energy for a 12-year period; the cost of kilowatt/hour will drop down to 1.5 cents
Armed Forces is countering ‘greedy’ traders, companies producing baby formula: spokesperson
Price hikes, reports of shortage of certain goods on the rise as army vows to intervene to provide basic goods for “ordinary citizens”
Schweinsteiger not nominated for Europa League
Former Germany captain Bastian Schweinsteiger won't be playing any European football for the rest fo the year. His club have elected not to take him along on its Europa League…
Political parties, NGOs reject parliament’s approval of VAT
The value-added tax was approved by parliament in late August, and was set at a rate of 13% for the current fiscal year
Egypt drops 14 places to rank 55 in Country RepTrak index
Effective governance is considered the cornerstone of attracting foreign direct investment
Amer Group to open Porto Sharm Hotel in December
Amer group will be managing the hotel during the first phase of the operations, until the hotel is assigned to an international company specialised in hotel management