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Egyptian economy in freefall

Egypt’s ultimate economic policy challenge lies in how to reconcile the high expectations of ordinary Egyptians for better livelihoods while reducing the deficit and improving Egypt’s economy

Daily News Egypt

Stock Market remains resilient despite calamitous week

By Fatheya Al-Garhy The stock market remained surprisingly resilient to last week’s consecutive multitude of violent events: Nile City towers, Dahshour and Rafah.  They caused a sharp decline in the market’s indices only for them to rebound back and absorb the events, supported by Egyptians’ purchasing transactions. Another major factor that contributed to the market’s …

Daily News Egypt

European stocks firm despite mounting global economic woes

London’s benchmark FTSE 100 index added 0.24 percent to 5,512.68 points in midday trade but was off earlier highs following dire news that Britain’s recession deepened in the second quarter of 2012. British gross domestic product slumped by a worse-than-expected 0.7 percent in the three months to June, according to official data published just ahead …

Daily News Egypt

Stock market performance surpasses analysts’ Ramadan forecast

By Fatheya Al-Garhy The Egyptian Stock Exchange (EGX) closed after the first session of Ramadan with prices maintaining relative stability, the opposite of what most analysts expected. Observers predicted that the EGX’s indices would experience sharp declines in the value of trading with the start of the holy month. The shares of Orascom Telecom Media and …

Daily News Egypt

New rules governing NILEX mentoring companies

Mohamed Omran, Chairman of the Egyptian Stock Exchange, issued a decision for rules governing mentoring companies for small and medium sized enterprises (SMEs). The decision included rules for mentoring as well as measures to be taken in the case of violations. The first article of the decision obligated companies wishing to offer mentoring services to …

Daily News Egypt

Egyptian stock exchange

Inflation slows in Egypt while deficit widens.

Egypt’s inflation slowed in April, despite overall food prices remaining high and the country’s deficit widening to $11.2 billion, as Egypt’s transition seemed to be prolonging its economic woes, the Automotive Marketing Council noted in a report released yesterday.

Moustafa Ayad