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EGX30 records 3rd weekly losses in July
22 - Sun - Jul - 2018
EGX30 records 3rd weekly losses in July
The Egyptian Exchange (EGX) declined for the third week in a row, pressured by the suspension of Qalaa Holdings and the absence of market stimulus.The benchmark index EGX30 lost 2.9% and closed the week at the level of 15,416.31 points.The small and medium enterprise index…
Tobacco firms to launch below EGP 18 brands
19 - Thu - Jul - 2018
Tobacco firms to launch below EGP 18 brands
Egypt-based tobacco firms are looking to launch new brands after the cigarette price hikes, head of the cigarettes division at the Federation of Egyptian Industries (FEI) Ibrahim Embaby.Companies are looking to offer new brands for low-income smokers at prices ranging between EGP 1 and EGP…
Foreign sell-off drag EGX down Thursday
19 - Thu - Jul - 2018
Foreign sell-off drag EGX down Thursday
he Egyptian Exchange (EGX) closed Thursday’s trading session in red territory, dragged down by foreign sell-off.The benchmark EGX30 index fell 162.42 points, or 1.04%, finishing the session at 15,416.31 points.The small- and mid-cap EGX70 index slid 0.35% to 752.6 points, while the broader EGX100 index…
Elsewedy, Arab Contractors race for Tanzania’s hydroelectric dam construction
19 - Thu - Jul - 2018
Elsewedy, Arab Contractors race for Tanzania’s hydroelectric dam construction
 Elsewedy Electric will partner up with Arab Contractors and a number of firms to compete for the construction of a hydroelectric dam in Tanzania, CEO Ahmed El Sewedy said.Tanzania is looking to build the biggest hydroelectric dam in East Africa over the Rufiji River.The dam will…
Egypt’s exports to COMESA members hit $1.6bn
19 - Thu - Jul - 2018
Egypt’s exports to COMESA members hit $1.6bn
Egyptian exports to the Common Market for Eastern and Southern Africa’s (COMESA) members rose to $1.6 billion in 2017.Egypt’s imports from COMESA’s countries totalled $608 million last year, trade minister Amr Nassar said in a statement on Thursday.The nineteen members of COMESA has more than…