Egypt news

1 hour ago Oil settles lower after mixed performance
The American Petroleum Institute (API) is scheduled to issue its weekly report later.
2 hours ago Gold records first gains in four days
Concerns regarding the Turkish economic crisis are cooling down
3 hours ago Brexit deal should be flexible - Merkel
German Chancellor Angela Merkel said on Tuesday that any agreement between the United Kingdom and the European Union should be flexible
4 hours ago US household debt nearly triples in Q2
This is the 16th consecutive quarter of increases
14 August 06:24 PM 22 killed after highway bridge collapses in Italy
At least 22 people were killed after a motorway bridge collapsed on torrential rains that hit buildings in north Italy on early Tuesday.
14 August 05:33 PM US import inflation accelerates to 6.5-yr high in July
The costs of the US import remained flat in July after declining in June.
14 August 05:03 PM Erdogan urges Turks to boycott US electronics     
Turkish President Recep Tayyip Erdogan on Tuesday stated that his country will boycott US electronic products, including Apple’s iPhones.
Market capitalisation lost EGP 6.99 billion and closed at EGP 860.48 billion
14 August 04:59 PM EGX ends Tuesday in red; market cap sheds EGP 6.99bn
Cairo – Mubasher: The Egyptian Exchange (EGX) closed Tuesday’s trading session in red territory, dragged down by Arab and foreign sell-off. The benchmark EGX30 index fell 1.06%, finishing the session at 15,356.81 points. The small- and mid-cap …
Revenue rose to EGP 50.04 million in the six-month period ended June
14 August 03:49 PM Prime Holding profits hike 94% in 6M
Cairo – Mubasher: Prime Holding on Tuesday posted a 94% year-on-year surge in consolidated profits for the first half of 2018, recording EGP 19.62 million from EGP 10.1 million. Revenue rose to EGP 50.04 million in the six-month period ended June, …
14 August 03:47 PM US small business owner morale hovers record high in July
Positive sentiment among US small businesses saw an improvement in July, recording the second highest level in history.
Net profit stood at EGP 271 million in the three-month period ended June
14 August 03:33 PM TMG Holding Q2 profit rises 5%
Cairo – Mubasher: Talaat Moustafa Group Holding (TMG Holding) on Tuesday reported a 4.6% year-on-year increase in consolidated profits for the second quarter of 2018. Net profit stood at EGP 271 million in the three-month period ended June, versus …
In the first half of 2018, net profit increased by 12.6% to EGP 1.1 billion
14 August 03:11 PM Emaar Misr Q2 profits up 11%
Cairo – Mubasher: Emaar Misr for Development on Tuesday reported an 11% year-on-year rise in consolidated profits for the second quarter of 2018, recording a net profit of EGP 597 million from EGP 597 million. In the first half of 2018, net profit …
14 August 03:09 PM German economic morale improves in August
German economic confidence saw a more-than-expected a resilient gain in August, survey data showed on Tuesday.
Revenues narrowed to EGP 876.4 million in the six-month period ended June
14 August 02:51 PM Porto Group profits drop 70% in H1
Cairo – Mubasher: Porto Group Holding on Tuesday reported a 70.1% year-on-year decline in consolidated profits for the first half of 2018, recording EGP 53.06 million from EGP 177.91 million. Revenues narrowed to EGP 876.4 million in the six-month …
14 August 02:38 PM Canada’s largest builder faces new growth risk amid Saudi spat
As the diplomatic feud between Canada and Saudi Arabia is escalating, one of the major pillars of SNC-Lavalin Group’s growth plans stood at stake.
The company logged EGP 8.84 million in profits during the six-month period ended June
14 August 02:37 PM Arab Dairy turns profitable in H1
Cairo – Mubasher: The Arab Dairy Products Co. (Panda) on Tuesday posted it has turned a profit in the first half of 2018. The company logged EGP 8.84 million in profits during the six-month period ended June, against a net loss of EGP 8.1 million …
The firm is planning to drill an exploratory well in the second half of 2018
14 August 02:10 PM Italy’s Eni gets new exploration license in Egypt
Cairo – Mubasher: The Italian oil and gas company Eni said it has obtained a new offshore exploration license in Egypt. The Rome-based firm is planning to drill an exploratory well in the second half of 2018, Reuters reported. Eni holds an 85% …
Egyptian minister of manpower and immigration Mohamed Saafan
14 August 01:46 PM Egypt announces Eid Al Adha holiday for private sector
Cairo – Mubasher: The Egyptian minister of manpower and immigration on Tuesday announced a three-day holiday for the private sector in celebration of Eid Al Adha. The Eid holiday will start on Monday, 20 August and end Wednesday, 22 August, …
Net profit amounted to EGP 28.88 million in the six-month period ended June
14 August 01:13 PM Lecico Egypt profit down 14.4% in H1
Cairo – Mubasher: Lecico Egypt on Tuesday posted a 14.4% year-on-year decline in consolidated profits for the first half of 2018 due to lower sales. Net profit amounted to EGP 28.88 million in the six-month period ended June, from EGP 33.75 …
14 August 01:12 PM Eurozone industrial output drops 0.7% in June, EU28 0.4%
The Eurozone's industrial production declined 0.7% in June, compared with the previous month, data showed on Tuesday.
Revenues grew to EGP 873.8 million in the six-month period ended June
14 August 12:59 PM Orascom Development logs EGP 185m profit in H1
Cairo – Mubasher: Orascom Development Egypt on Tuesday reported a 4.7% year-on-year increase in consolidated profits for the first half of 2018, recording EGP 184.61 million from EGP 176.29 million. Revenues grew to EGP 873.8 million in the …
14 August 12:53 PM Germany’s economic growth accelerates in Q2 amid cautious outlook
Germany’s economic growth gained momentum in the second quarter of 2018, official data showed on Tuesday.
14 August 12:47 PM Updated Eurozone, EU28 Q2 economic growth confirmed at 0.4%
Gross domestic product (GDP) in Eurozone and the 28-member European Union (EU28) rose 0.4% in the second quarter of 2018, compared with the previous quarter.
The company generated a net profit of EGP 153.08 million in the six-month period ended June
14 August 12:46 PM Ataqa H1 profits soar 125%
Cairo – Mubasher: Misr National Steel (Ataqa) on Tuesday reported a 124.8% year-on-year hike in profits for the first half of 2018. The company generated a net profit of EGP 153.08 million in the six-month period ended June, versus EGP 68.08 …
Revenues fell to EGP 20.1 billion in the six-month period ended June
14 August 12:36 PM Elsewedy Electric profits slump 21% in H1
Cairo – Mubasher: Elsewedy Electric on Tuesday reported a 20.9% year-on-year decline in its consolidated profits during the first half of 2018, recording a net profit of EGP 2.41 billion from EGP 3.05 billion. Revenues fell to EGP 20.1 billion in …