Business News: CIB ranked Egypt most efficient bank    University students food poisoned yet again    Eighth anniversary of ‘Black Wednesday'    5-1 Egypt power station DNE    Hezbollah chief says group is fighting in Syria    In Pictures: Demonstrators protest Judiciary Law    Fuel production rise to combat shortages    UEFA Champions League final: Bayern Munich vs Borussia Dortmund - Starting lineups    African states urge Egypt to join cluster-bomb ban    Fighting for Iranian tourism    Court supports MOI decision to investigate bearded police officers    UAE''s $3 bln aid for Egypt "will take time": UAE finmin    Egypt to return taxes collected from Qatar bank deal    Hamada Al-Masry released    Thousands watch murdered anti-Mafia priest beatified in Sicily    Egypt's Railways Sign Contracts With Italy, Germany On Developing 150 Crossings    Faisal Islamic Bank Of Egypt's Finances Hit EGP 3.3 Bln At End-March    Turkey to Supply Egypt With 150 Cleaning Vehicles    Barakat will stay – Ahli boss    Bayern Munich, Dortmund fans descend on Wembley for final    Tennis: Djokovic and cold weather threaten Nadal's Paris bid    Google to bankroll, build wireless networks across Africa: WSJ    Art Alert: Renowned pianist Ramzi Yassa to perform with Cairo Symphony Orchestra    In Ethiopia, African Union celebrates 50 years    Egypt's Shura Council discusses controversial judiciary law    Artist Kapoor Draws On Berlin's Dark History In New Show    Cairo Jazz Club brings bands together in El Fusion    ON THIS DAY: The Istanbul miracle    Army seizes 2.5 tonnes of marijuana    IMF's Lagarde Escapes Formal Investigation In French Case    UK Security Services Tried To Recruit London Killing Suspect: 'Friend'    Britain's Muslims Fear Of Reprisal, Extremism Rises After London Attack    The Gazette and the 1952 revolution (299) The revolution and Israel The Czech Arms Deal (3) Earlier approaches    Research collaboration with Russia    Green Eagles Ultras protest in Port Said, tension at security directorate    Cairo airport delays plans to close at night    Egypt's Morsi Wants Arrest Of Sinai Kidnappers After Hostages Released    Egypt: Chaos And Suspicion In A Cairo Mortuary    Haniyeh To Egypt: Reconsider Peace Deal With Israel    Egypt Court Sentences Four Men To Hang For Killing Priest    Barakat stars as Ahli crush ENPPI    Leonardo DiCaprio Space Flight Auctioned for $1.5 Million    Ultras White Knights leader released on bail    Politics with a smile    Local Roundup: Zamalek and Ghazl El-Mahalla qualify to second round in Egyptian Cup    ‘I don't like cricket... I love it!'    Coin smugglers foiled at Cairo Airport    PROGRAMME: Four Countries – Four Movies, screening in Cairo    

Articles of the author Christopher Coq
Political crisis leaves Egyptian economy in jeopardy
World markets have been reacting strongly to the violent protests in Egypt that have continued without pause for six days straight, forcing the country's president, Hosni Mubarak, to appoint a new cabinet, and calling into question the future stability of the regime. Locally, the Egyptian Stock (...)

30 - 01 - 2011
Protests jolt Egypt's stock market to second biggest drop in history
CAIRO: Egypt's main EGX 30 index closed 10.52 percent lower on Thursday, at 5,646.5 points, its second sharpest drop in history. The Egyptian Exchange suspended trading early in the day for 40 minutes, when the index was down 6.24 percent at 5,916.74 points, and then resumed trading at (...)

28 - 01 - 2011
NBD finds niche in Sharia-compliant car financing
CAIRO: The National Bank for Development (NBD), which specializes in Sharia-compliant products and had LE 2 billion in capital at the end of 2010, has been consolidating its market share in car financing. Since the acquisition of 49 percent of the NBD's stock by the Abu Dhabi Islamic Bank in (...)

27 - 01 - 2011
EGX 30 slides 10 percent after trading resumes
CAIRO: Trading resumed on Egypt's stock market after a 40-minute suspension early Thursday, and had fallen 10.587 percent on the day as of 1:20 pm Cairo local time. The broader EGX 70 was down more than 16 percent. A spokesperson at the Egyptian Exchange told Daily News Egypt that the trading (...)

27 - 01 - 2011
Widening trade deficit may stifle Egypt's growth
CAIRO: Egypt's trade deficit widened 42.6 percent in the year to October 2010 compared to the previous year, according to figures released by the state statistics agency CAPMAS. The deficit stretched to LE 17.6 billion, representing an increase of LE 5 billion or 42 percent. Exports in (...)

25 - 01 - 2011
Compass Capital acquires pharmaceutical company for $40 mln
CAIRO: Investment firm Compass Capital has acquired 10th of Ramadan for Pharmaceutical and Diagnostic Reagents Company (RAMEDA) in a deal worth $40 million. RAMEDA, established in 1994 in the Sixth of October industrial zone, specializes in manufacturing human and veterinary pharmaceutical (...)

25 - 01 - 2011
Global governance incapable of mitigating risks, warns report
CAIRO: Global governance is increasingly unequipped to curb an array of arising risks, warned the “Global Risks 2011” report, issued by the World Economic Forum last week. “The benefits of globalization seem unevenly spread — a minority is seen to have harvested a disproportionate amount of the (...)

20 - 01 - 2011
Egypt's ICT sector grew 12 pct in 2010: minister
CAIRO: Egypt's information and communication technology sector grew by 12 percent in 2010, said minister Tarek Kamel. Minister of Communications and Information Technology (MCIT) Kamel attributed the growth to the development of the mobile phone as well as internet sectors, local reports (...)

18 - 01 - 2011
Leading American economist outlines how emerging economies may move forward
CAIRO: Joseph Stiglitz, a revered Nobel Prize-winning American economist and professor at Columbia University, spoke at the American University in Cairo on Jan. 13, where he outlined how developing countries and emerging markets can integrate into the international economy. Stiglitz kicked off (...)

17 - 01 - 2011
General Motors Egypt set for more investments, new models in 2011
CAIRO: Thanks to millions of dollars of investment and a restructuring of its operations in Africa, General Motors has been able to cut costs and increase its market share in three years, explained Rajeev Chaba, managing director and chairman for General Motors' North African (...)

13 - 01 - 2011
Developing MENA coastlines key to boosting tourism revenue, says report
CAIRO: Middle East and North African countries would benefit economically by further developing their coastlines to attract the ever-growing number of tourists with yacht as well as those interested in marine activities, a recent report says. Capital investments of between $250-300 billion in (...)

12 - 01 - 2011
Wind projects to help Egypt reach 2020 energy target
CAIRO: Minister of Electricity and Energy Hassan Younes said Egypt will produce 2.6 GW of energy through the construction of new wind energy projects, which will be undertaken by both the private and public sectors, local media reported this week. Funds for the projects that will add 540 MW of (...)

11 - 01 - 2011
Egypt eyes inflation as Algeria, Tunisia are mired in food riots
CAIRO: As rising food prices spur social unrest in neighboring North African countries, concerns that riots could spillover into Egypt remain mild as inflation is expected to rise. The Food and Agriculture Organization, a body of the United Nations, said on Jan. 5 that food prices hit a “record (...)

10 - 01 - 2011
Egypt experts warn of full-blown currency war
CAIRO: Increasingly over the past few months, talk of a currency war breaking out between major economic powers has been common in policy circles, said Magda Kandil — the executive director and the director of research at the Egyptian Center for Economic Studies (ECES) — on Monday. Kandil (...)

10 - 01 - 2011
AfDB offers 1.9 mln euro grant for regional water management
CAIRO: The African Development Bank (AfDB) offered a grant to the tune of €1.912 million to the Center for Environment and Development for the Arab Region and Europe (CEDARE). The funds will go to the monitoring and evaluation of a water management project in the North African region. The (...)

05 - 01 - 2011
OT gets liquidity boost as Tunisiana sale closes
CAIRO: Orascom Telecomb Holding completed its sale of Tunisiana to Qatar Telecom (QTel) on Jan. 5, in a deal worth $1.2 billion, OT said in a statement. OT previously owned 50 percent of Tunisiana through both Orascom Tunisia Holding and Carthage Consortium. The transaction, first announced (...)

05 - 01 - 2011
Egypt's mobile market nears saturation at 80 pct penetration
CAIRO: Egypt's mobile phone market is kicking off 2011 with a penetration rate of 80 percent, bringing it closer to saturation, analysts say. By the end of October 2010, there were 65.488 million subscriptions, representing an increase of more than 12.5 million, or 23.6 percent over 2009 (...)

03 - 01 - 2011
Prices force food, drink producers to eye ingredient alternatives
CAIRO: A confluence of factors have ignited a price spike in a number of core commodities in Egypt, such as sugar, wheat and rice, forcing food and drink companies to seek cheaper alternatives in an attempt to protect Egyptian consumers' bottom line, according to a recent Euromonitor International (...)

03 - 01 - 2011
US to wrap up its first entrepreneurship competition in Egypt
CAIRO: The US State Department's Global Entrepreneurship Program (GEP) business competition will conclude during the second week of Jan. 2011, in which one or two innovative start-up firms will receive a cash prize in order to jettison their ambitions. The US government believes — along with (...)

30 - 12 - 2010
Four steel licenses awarded to curb shortage as demand expected to rise
CAIRO: The government has handed out four new steel licenses in an attempt to reduce the shortage of the local steel supply, local media reports recently stated. Through the new licenses, a further 2 million tons of finished steel and 1 million tons of billets will be made available to the local (...)

30 - 12 - 2010
Local banking sector looks to build on 2010's momentum
CAIRO: Analysts are largely unanimous in their assessment that 2010 was solid year for the local Egyptian banking sector, as it posted healthy growth figures. This view contrasts sharply with the previous year, which they say was plagued by moribund lending dovetailed with weak non-interest (...)

29 - 12 - 2010
Intel optimistic about local ICT sector for 2011
CAIRO: Intel, which raked in a record $40 billion in revenue this year, is eager to watch that figure expand by entering adjacent markets in not just advanced economies but in Egypt, as well. “Egypt is one of the highest growth markets in the region,” Taha Khalifa, general manager for Intel's (...)

28 - 12 - 2010
Further delays in Weather Investments, VimpelCom deal
CAIRO: Finalization of the $6.6 million agreement between Weather Investments and VimpelCom was delayed until Friday, according to Al Mal, a local Egyptian newspaper, who cited Naguib Sawiris, Weather's chairman. The delay was attributed to a request for more time to study VimpelCom's newest (...)

27 - 12 - 2010
YEAREND SPECIAL: Trade, investment spur growth as Egyptian pound fluctuates
While the global economic climate was characterized by renewed volatility in 2010 due to the euro zone crisis in conjunction with morose conditions slowing recovery in the United States — on the domestic front, Egypt achieved a respectable 5.1 percent growth rate for the fiscal year ending June (...)

24 - 12 - 2010
YEAREND SPECIAL: Egypt's stock market treads along in 2010 but outlook shaky
The EGX 30 posted gains that were modest for 2010, signifying that this year won't go down in the books as one of the most memorable. The market rallied in the first quarter of the year, slid downwards a tad in the second, only to perk back up in the third, and with final figures for the last (...)

24 - 12 - 2010
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