Mohamed Ahmed el-Saadani
Companies increase rates of insurance against car theft
Egypt
November 17, 2011
Companies increase rates of insurance against car theft
“We are awaiting the approval of the Financial Supervisory Authority to raise the costs of insurance policies against car theft,”…
Manpower minister calls for price control law
Business
October 26, 2011
Manpower minister calls for price control law
Minister of Manpower Ahmed Hassan al-Borai, at a symposium on Tuesday, called for a unified law regulating wages and prices…
Cigarette smuggling costs government LE160 million
Business
August 28, 2011
Cigarette smuggling costs government LE160 million
A recent study showed that the Egyptian government lost about LE160 million during the first half of this year due…
Dollar stable against Egyptian pound, exchange officials say
Egypt
June 13, 2011
Dollar stable against Egyptian pound, exchange officials say
US dollar prices remained stable against the Egyptian pound over the past few days despite preparation by foodstuff importers for…
Economists praise increases in commodity subsidies
Business
May 26, 2011
Economists praise increases in commodity subsidies
Economic experts have praised the prime minister’s decision to increase subsidies of strategic commodities from LE90 billion to LE115 billion…
Poor outlook for Egyptian banks could affect foreign lending
Business
April 20, 2011
Poor outlook for Egyptian banks could affect foreign lending
Egypt could face difficulties in obtaining foreign loans, warned banking experts, after Moody's revised its outlook on Egypt's banking system…
Central Bank of Egypt to let the pound drop gradually
Business
March 17, 2011
Central Bank of Egypt to let the pound drop gradually
The Central Bank of Egypt (CBE) announced on Wednesday it would allow the value of the Egyptian pound (EGP) to…
General Motors Egypt to invest $175 million as economy takes stock
Business
February 28, 2011
General Motors Egypt to invest $175 million as economy takes stock
General Motors Egypt announced that it plans to inject the Egyptian market with new investments worth US$175 million.
CBE tells banks to remain watchful of frozen assets
Business
February 14, 2011
CBE tells banks to remain watchful of frozen assets
Bank directors have been ordered to monitor assets frozen in the wake of the popular uprising in Egypt. The order…
Banks to open as usual on Thursday; Egypt pound stable against US dollar
Business
February 9, 2011
Banks to open as usual on Thursday; Egypt pound stable against US dollar
Banks will open as usual on Thursday from 8:30 AM until 2:00 PM, with some branches remaining open until 5:00…
Egypt pound hits 5.8 to the dollar; food prices inch upwards
Business
December 30, 2010
Egypt pound hits 5.8 to the dollar; food prices inch upwards
Food prices were subject to several incremental increases this year due to a corresponding rise in the value of the…
Chambers of commerce: Sugar prices won’t decrease substantially
Business
December 6, 2010
Chambers of commerce: Sugar prices won’t decrease substantially
“Sugar prices may not go up drastically,” said Chambers of Commerce Federation President Ahmed al-Wakil. “But they won’t go down…
Egypt PM: Ruling party has yet to select presidential nominee
Egypt
September 29, 2010
Egypt PM: Ruling party has yet to select presidential nominee
The ruling National Democratic Party (NDP) of President Hosni Mubarak has not yet selected its candidate for presidential elections slated…
BP to sell Egyptian oil fields to Apache Corp
Business
July 21, 2010
BP to sell Egyptian oil fields to Apache Corp
UK-based oil giant British Petroleum (BP) has agreed to sell oil and gas fields in Egypt, the US, and Canada…
Spending on ads up 36%
Business
July 15, 2010
Spending on ads up 36%
Total spending on advertisements in Cairo over the past six months is up 36 percent from the same period last…
Gold prices hit record high
Business
June 9, 2010
Gold prices hit record high
Gold prices have reached a historic level on London's market, with one ounce of gold jumping from US$1215 to US$1248.…
US dollar continues to rise against Egyptian pound
Business
May 8, 2010
US dollar continues to rise against Egyptian pound
The US dollar continued to rise against the Egyptian pound, increasing by 4 piasters over the past week, and 14…
Dollar stabilizes against Egyptian pound
Business
May 3, 2010
Dollar stabilizes against Egyptian pound
The US dollar has stabilized against the Egyptian pound after rising by LE0.10 last month. The selling rate for the…
US State Department declines to support ElBaradei run
Egypt
March 17, 2010
US State Department declines to support ElBaradei run
Washington--Nicole Chapman, the US State Department official responsible for Egypt and the Middle East, said her country would not support…