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08 Jul 2015

Egypt’s ban on cotton imports threatens textile industry

Tuesday’s decision by the Egypt's agriculture ministry to temporarily ban cotton imports, it says to protect domestic cotton production, is stirring fears among experts that the country's own textile industry may end up paying the price.


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08 Jul 2015

Emaar Misr to buy back shares after stock falls in Egypt IPO

UAE Emaar’s Egyptian unit, Emaar Misr for Development, which started trading Sunday, offered to buy back 90 million shares through a fund after the stock plummeted on its second trading day, according to the state-run MENA news agency.


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08 Jul 2015

Dim international and domestic news pushes EGX down

Reports on the Greek economic crisis, the drop in China’s capital market, and the domestic fears of militant attacks continue to strike the Egyptian stock market, with the main index declining for the third consecutive day.


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08 Jul 2015

Negm, TE dispute settles unified licence file

A large-scale dispute was recently witnessed between the Ministry of Communications and government-owned Telecom Egypt (TE).


It started with the TE administration’s objections to the reduction of the infrastructure rental rate for Internet service providers.


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08 Jul 2015

4G licence proposal opportunity for TE to become integrated operator

Telecom Egypt (TE) may be forced to give up revenues estimated at EGP 20bn over the next five years, in case it acquires the 4G mobile licence. That is due to the stipulated licence regulations regarding giving up its share in Vodafone Egypt, in order to turn it into integrated operator."...

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08 Jul 2015

Egypt’s textile industry threatened by halt on cotton imports

Critics fear a ban on cotton imports will deprive local textile manufacturers of short-staple cotton, a vital product for the industry.

Tuesday’s decision by Egypt's agriculture ministry to temporarily ban cotton imports, it says to protect domestic cotton production, is stirring"...

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08 Jul 2015

Egypt pays $670m debt to creditors

The latest payment would have further shrunk Egypt’s total foreign debt, which dropped to $39.9 billion in the third quarter ending in March from $45.29 billion the previous fiscal year.

Egypt paid back $670 million of debt to the Paris"...

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08 Jul 2015

Egypt business first expansion in five months

Business activity in Egypt’s private sector excluding oil grew slightly in June, ending five months of contraction, though inflation and currency depreciation remain a concern, a survey showed on Sunday.


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08 Jul 2015

QNB Group: Financial Results for the Six Months Ended 30 June 2015

QNB Group, one of the World’s Strongest Banks and the leading bank in the Middle East and North Africa, announced its results for the six months ended 30 June 2015.

For the six months of 2015, Net Profit was QAR5.6 billion (USD1.5 billion), up by 10.2% compared to last year.


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08 Jul 2015

Al Ain Traffic Warns Motorists against Stopping in Roundabouts

The Traffic Section at the Traffic and Patrols Directorate at Abu Dhabi Police warned motorists about the dangers of stopping in roundabouts, especially near crowded mosques. This behavior leads to blocking traffic flow and results in traffic accidents.


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