Top Egypt News

Egypt Raises Interest Rates By 50 Basis Points

The Central Bank of Egypt said Friday its monetary policy committee decided to raise overnight deposit and lending rates by 50 basis points to 10% and 12% respectively, in an effort to contain rising inflation. Dow Jones Newswires - 09May 08:43GMT
Australia to resume live cattle exports to Egypt: minister

Australia will resume exporting live cattle to Egypt, a practice stopped two years ago because of cruelty concerns, Agriculture Minister Tony Burke said Friday. AFP - 09May 07:26GMT
Egypt says Lebanon opposition 'pushing for confrontation'

Egypt has repeated its support for Lebanon's Western-backed government and implicitly blamed the country's Hezbollah-led opposition of "pushing for confrontation," the press reported on Wednesday. AFP - 08May 12:47GMT
Kuwaiti Airways to increase two-way flights to Egypt

Kuwait Airways Corporation will organize additional flights to Cairo as of the middle of next month coinciding with the annual vacation of thousands of Kuwaiti students studying in Egypt. KUNA (Kuwait News Agency) - 08May 09:37GMT
830 New Hotels Under Way in ME

"Around 170 million arrivals are expected by 2020, and some 830 new hotels are under development to give an additional 750,000 rooms across the region," Gerald Lawless, Executive Chairman for Jumeirah Group said. Press Release - 08May 08:36GMT
Emaar Misr Unveils $1B Community In Cairo City

Emaar Misr for Development has unveiled the components of its US$1 billion New Cairo City project - an elegant, Santa Barbara California-inspired residential and mixed-use development of 885 acres near the American University in Cairo. Press Release - 08May 06:46GMT
EFG-Hermes partners with Korean firm

Regional investment bank EFG-Hermes, has launched the KB Mena Equity Fund in association with KB Asset Management, South Korea to offer investment opportunities in Middle East and North Africa (Mena) region to Korean investors. Gulf News - 08May 05:39GMT
Egyptians despair as duty increases cancel out pay rises

Already stunned by skyrocketing prices, Egyptians voiced despair on Tuesday after the government raised duties on fuel and cigarettes in a bid to pay for a promised public sector wage increase. AFP - 06May 13:24GMT
Abraaj Capital acquires 76.9% stake in Al Borg

Abraaj Capital announced that it has acquired a 76.9 per cent stake in Al Borg Laboratory, the largest private laboratory in the Middle East, through a public tender offer. Khaleej Times - 06May 07:42GMT
Egypt raises fuel and diesel prices amid public anger

Egypt's parliament voted in favour of a set of tax and duty increases including on fuel, diesel and cigarettes amid public anger at price hikes and the state of the economy. AFP - 06May 05:04GMT

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Power & Utilities
Going Nuclear
The Middle East is turning to nuclear power as the only way to provide enough energy to handle the growth that all Arab states will go through over the next 40 years.

Anger & Inflation
The rising cost of foodstuffs, particularly for wheat, has plunged the Egyptian government into a crisis with far-reaching social consequences.

Economy & Politics
Hunger Pangs
There is a worrying food crisis hanging over the Middle East and north Africa, the region most dependent on imports of food staples.

Company Ranking

Ranked by Market Cap | No. of Employees | Total revenue

	Company	Country	Market Capital ($mil)
1	Orascom Construction Industries	Egypt	15,550
2	Orascom Telecom Holding	Egypt	15,426
3	Telecom Egypt	Egypt	6,367
4	Egyptian Iron and Steel Company	Egypt	4,368
5	Talaat Mostafa Group	Egypt	4,166
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