Latest news
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Egypt cuts spending on energy subsidies by a third in new budget
The Finance Minister said the allocation for fuel subsidies has been cut from around E£144bn ($20bn) last year to E£100bn in the new budget.
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Cost efficiency gives Egypt an edge in Chinese orange market
Egyptian oranges are known globally for their high quality, but even so, they are still offered at a reasonable price.
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Lantern prices increase 20%, Chinese products infiltrate market
Ramadan lantern prices increased this Ramadan over last year due to a price increase in raw materials and exchange rate.
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Egypt's government to raise electricity and petrol prices next month: Minister
State to raise prices of all petroleum products and electricity in order to reduce budget deficit to 10 percent of GDP by 2015.
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Sisi approves revised budget with deficit at 10 pct of GDP: statement
Spending is set to reach 789 billion Egyptian pounds and revenues at 549 billion Egyptian pounds, putting the budget deficit at 10%.
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Egypt's energy crisis forces increased interest in clean tech
Without the government or private sector investments, Egypt’s natural gas production has been declining steadily.
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Israel's Leviathan Gas Field Partners set for talks to supply BG in Egypt
The letter sets out terms of a final accord, including the sale of 7 billion cubic meters of gas a year for 15 years at a price to be determined.
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Egypt's EGAS expects delay in gas import terminal -source
Egypt can export LNG but cannot import it without installing the terminal.
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Souq.com facilitates launch of new e-commerce startups
The industry’s high potential for growth is clear, as the country is home to a large generation of young online purchasers.
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Google creates Ramadan-hub for users
The hub will give people information based on their location, like a popular cooking show on YouTube or their local countdown to sunset.
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Shell, BAPETCo to pump new investments worth USD402m in Egypt
The new investments come within the framework of BAPETCo's 2014/15 budget, which has been endorsed by the Egyptian oil minister.
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Egypt's EFG-Hermes says fair price 30 pct more than Beltone-New Egypt bid
An independent adviser had set its fair share price 30 percent higher than a joint bid by Beltone Capital and New Egypt Investment Fund.
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Sisi inspects Arab Contractors' major housing project in Malabo
He toured a number of housing units in the project and was updated on projects of Arab Contractors in Equatorial Guinea and in Africa at large.
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Mobinil rules out low-price offers once TE gets mobile licence
The competition will mainly base on improving the quality of service and focus on the "user satisfaction".
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Fitch affirms Egypt at 'B-'; outlook stable
Fitch Ratings has affirmed Egypt's Long-term foreign and local currency Issuer Default Ratings (IDR) at 'B-'. The Outlooks are Stable.
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IMF ready to help Egypt if requested
Till now, Egypt did not ask for any help from the fund or announce plans for seeking to get a loan or a certificate of safety.
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Veronafiere creates African construction hub in Cairo
Veronafiere is betting on Cairo to create a trade fair hub for the construction industry aimed at the entire African continent, named Projex Africa.
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Egyptian automotive corp to exclusively manufacture Russia Lada Granta
Al-Amal is expected to be the sole manufacturer and assembler of Lada Granta in the Middle East and Africa once it starts production in Q4/2014.
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Egypt extends purchases to buy 4 mln t local wheat -MENA
The Supplies Ministry said last week that Egypt had bought 3.7 million tonnes of domestic wheat this year.
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Army donates EGP1 billion to Sisi's pro-economy fund
The Armed Forces announced supporting an initiative by President Abdel Fattah el-Sisi to boost the national economy.