EGX dips on institutions’ sales, benchmark down 0.83%
CAIRO: The Egyptian Exchange (EGX) lost ground at the close of Wednesday’s session, hammered by institutions’ selling spree. The benchmark index EGX30 edged down 0.83 percent to end at 8,114 points,...
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Egypt receives last batch of UAE-funded public buses
CAIRO: Egypt received 174 public buses; the last batch of 600 provided by the UAE to develop the country’s public transport sector, Youm7 reported Wednesday. The new buses will operate Thursday for...
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Egyptian president nationalizes the Suez Canal
CAIRO: EDITOR’S NOTE: In July 1956, Egyptian President Gamal Abdel Nasser nationalized the Suez Canal, marking Egypt’s decisive break with its colonial past. Before that, the canal, built in 1869 by...
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Travel ban on 5 Egyptian, 1Morroccan businessmen lifted
CAIRO: A travel ban enforced on Egyptian-American businessman Ahmed Bahgat was lifted Wednesday according to a court decision issued by Judge Fathy al-Bayoumy, Al-Watan newspaper reported. The order...
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Egypt opens Suez Canal expansion to high hopes and some doubt
CAIRO: Egypt will open an expansion to the Suez Canal to great fanfare on Thursday, the centrepiece of President Abdel Fattah al-Sisi’s plans to revitalise the country’s economy. Some analysts and...
View ArticleMubarak uncaring of excluding his image from News Suez Canal murals: lawyer says
CAIRO: “Former President Hosni Mubarak does not care about excluding his image from the New Suez Canal mural,” Mubarak’s lawyer Yousri Abdel-Razeq said Wednesday. Several ceramic tile murals bearing...
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Egypt’s banks, bourse to shut Thursday on New Suez Canal opening
CAIRO: The Central Bank of Egypt (CBE) said banks will be closed on Thursday, which has been announced an official holiday on the occasion of opening the New Suez Canal. Also, the Egyptian Exchange...
View Article24% of Egyptians are smokers: MOH
CAIRO: Twenty four percent of Egyptians are smokers; Health Ministry Undersecretary for Preventive Affairs Amr Kandil was quoted by Youm7 Wednesday. Even more worryingly, 12 percent of the smokers are...
View ArticleFACTBOX-Facts about Egypt’s New Suez Canal
CAIRO: Egypt on Thursday opens the New Suez Canal, an extension which flanks the existing 145-year-old waterway and part of a larger undertaking to expand trade. Here are some acts about the new...
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Islamic State Egypt-affiliate threaten to kill Croatian hostage in 48 hours
CAIRO: An online video, purportedly from Islamic State’s Egypt affiliate, showed on Wednesday a Croatian hostage who said the group would kill him in 48 hours if Muslim women in Egyptian jails were not...
View ArticleTruck bomb in eastern Afghanistan kills at least six, wounds dozens
KABUL: A truck bomb at an Afghan special forces base in the eastern province of Logar killed at least three soldiers and three civilians and wounded dozens of others, officials said on Thursday. “The...
View ArticleArabian Cement Negotiates with Egypt to Amicably Settle Pending International...
CAIRO: Arabian Cement Company (ACC) announced that its main shareholder, the Spanish investor Aridos Jativa/Cementos La Union, has started negotiations with the Egyptian Committee of Dispute Resolution...
View ArticleUPDATE: IS Egypt affiliate threatens to kill Croatian hostage in 48 hours
An online video purportedly from Islamic State’s Egypt affiliate showed a Croatian hostage working for a French company who said the group would kill him in 48 hours if Muslim women in Egyptian jails...
View ArticleEgypt agrees to export cotton to Ukraine in exchange for wheat imports
CAIRO: Egypt has agreed to export Egyptian cotton to Ukraine in exchange for importing Ukrainian wheat, Egypt’s state news agency MENA reported on Wednesday. Agriculture Minister Salah Helal agreed the...
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Rating Action: Moody’s affirms Emirates NBD’s long-term ratings; outlook...
Limassol: Moody’s Investors Service has today affirmed Emirates NBD PJSC’s (ENBD) Baa1 long-term deposit ratings, Prime-2 short-term deposit ratings and ba2 baseline credit assessment (BCA). At the...
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