Egypt news

4 hours ago Oil settles lower on Friday
​​​​​​​Mubasher: Oil futures went down at Friday’s settlement, as worries over a sluggish global demand emerged.
5 hours ago US oil rigs go down in week
Mubasher: Oil and gas rigs in the US declined during the week ended 22 March.
5 hours ago General Motors launches $300m Assembly Plant in US’ Michigan
Mubasher: US auto manufacturers General Motors (GM) is planning to invest as much as $300 million in a new plant in Michigan.
22 March 10:01 PM Gold levels up $5 at Friday’s settlement
​​​​​​​Mubasher: Gold settled higher on Friday, marking its third successive weekly gain.
The project is expected to create 57,000 jobs
22 March 08:16 PM Arkan Palm inks deal for new commercial, medical complex in Egypt
Cairo – Mubasher: Arkan Palm for Real Estate Investment has signed an agreement with Egypt's New Urban Communities Authority (NUCA) for the construction of an integrated commercial, administrative, medical, and recreational complex. The new …
22 March 07:32 PM Lira plunges over emerging Turkish-US tensions
The Turkish lira dropped against the US dollar on Friday, despite the US Federal Reserve's move to put a brake on interest rat hikes.
22 March 06:28 PM Turkish’s FX reserves drop in March
Foreign exchange reserves in Turkish central bank dropped unexpectedly in March, Bloomberg News reported.
The benchmark EGX30 index lost 208 points
22 March 06:17 PM EGX indices level down in week, CIB sheds 1.84%
Cairo – Mubasher: The Egyptian Exchange’s (EGX) indices went down during the third week of March, whereas market capitalisation decreased by EGP 10.4 billion to EGP 820.7 billion. The benchmark EGX30 index lost 208 points, or 1.39%, to 14,782 …
NCIC is an affiliate of Egypt’s National Service Projects Organization
22 March 06:03 PM Germany’s Thyssenkrupp to build fertiliser complex in Egypt
Cairo – Mubasher: El-Nasr Company for Intermediate Chemicals (NCIC) has signed an agreement with Germany's Thyssenkrupp to build a nitrogenous fertiliser complex in Egypt’s Ain El-Sokhna. NCIC is an affiliate of Egypt’s National Service Projects …
22 March 05:55 PM US wholesale stockpiles post 6-yr high
US wholesale inventories posted the biggest gain in over six years last January, official data showed on Friday.
22 March 05:31 PM US existing home sales recover strongly in February
US home sales saw a robust rebound during February, recording the biggest monthly gain since more than three years ago, official data showed on Friday.
22 March 05:11 PM Trump hopes Fed ended interest rate hikes
US President Donald Trump voiced his hope that the Federal Reserve's interest rate hikes had come to an end.
22 March 04:34 PM Uber to list shares on New York Stock Exchange–Report
Uber has chosen the New York Stock Exchange for its blockbuster initial public offering, according to Bloomberg.
22 March 04:03 PM Russian leaves key rate unchanged
The Russian central bank held its policy rate at its current level, chiming with market expectations, but hinted it could cut it later this year.
22 March 02:17 PM Facebook admits storing passwords without encryption
Facebook admitted that it stored millions of user passwords in unprotected plain text files, according to The Independent.
22 March 01:08 PM IMF backs Fed’s rate hike pause amid economic uncertainty
The International Monetary Fund backed the US Federal Reserve's decision to put a brake on further interest rate hikes as a rational step.
22 March 12:33 PM Eurozone current account surplus grows in January
The Eurozone's current account surplus expanded in January from December 2018, but it posted a year-on-year fall over the 12-month period ended the reported month.
22 March 12:17 PM Eurozone business growth slows in March on manufacturing downturn
Initial estimates for the Eurozone indicated that economic activity saw a further slowing growth during March, as factories saw their deepest downturn in six years.
22 March 11:56 AM Germany's private sector growth slows to 6.5-yr low in March
Business activity in the German private sector saw a modest improvement during March, but the growth pace was the slowest in nearly six years.
22 March 11:31 AM Gold stable below 3-week peak on stock market rally
Gold prices steadied on Friday, below their highest level in three weeks reached in the previous session.
22 March 11:08 AM Oil eases from 2019 peak, dragged by economic jitters curb
Oil prices earlier on Friday retreated from their highest level seen so far this year as worries about an economic slowdown dragged market sentiment down.
21 March 11:39 PM Oil ends lower on Thursday
Mubasher: Oil futures settled lower on Thursday, as the US reported a decline in natural gas inventories
The factory is under development
21 March 11:14 PM Ain Sokhna port explosion kills 8 people, injures 5
Cairo – Mubasher: At least eight people were killed and five injured on Thursday after the explosion of a chemical tank at a phosphates factory in Egypt’s Ain Sokhna port. Owned by the Armed Forces, the factory is under development, according to …
21 March 10:03 PM Gold goes up at Thursday’s settlement
Mubasher: Gold settled higher on Thursday, marking its highest level since 13 March.
SODIC is expecting to develop a series of projects in the next decade
21 March 09:22 PM SODIC eyes EGP 150bn contracts in 10 yrs
Cairo – Mubasher: Sixth of October for Development and Investment (SODIC) on Thursday announced that its undeveloped land portfolio will be increased to 7 million square metres, following the cooperation with the New Urban Communities Authority …