News
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Omani Investment Authority studies business opportunities in Egypt’s renewable energy
Sources told Daily News Egypt that Oman is currently studying more than one investment opportunity in the renewable energy sector.
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Egypt's Senate approves a draft bill allowing informal industrial projects to operate legally
In 2017 law no.15 was passed to grant the IDA the power to allow informal industrial projects to operate for a temporary two-year period.
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Ahlan Ramadan consumers not allowed to buy more than 10 kilos of any commodity
4 Ahlan Ramadan outlets will be opened in Al-Warraq, Auseem, Atfih and Al-Saf, and these exhibitions will continue until the end of Ramadan.
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South Korea-Egypt trade exchange hits $3.15bln in 2022
Egypt’s exports to Korea also reached an all-time high of $1.69bln, an increase of 161% year-on-year.
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Officials at FRA, CBE, EGX review latest developments in national economy
The meetings were held to cast a spotlight on the latest developments in the Egyptian economy.
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Shell and Energean Egypt partner on carbon capture development
Via this agreement, Energean plans to harness its prior experience in designing carbon capture and storage (CCS) projects in depleted hydrocarbon.
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Cabinet issues decision to suspend pricing of white rice
Selling price of a kilogram of packaged white rice ranged from 14 to 18 pounds, and a kilogram of loose rice at a price of 12 pounds, last September.
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Egypt's Orbit Developments launches two new projects in Sokhna and Hurghada
Platinum Hurghada comprises five-storey buildings housing apartments and commercial units and is scheduled to be delivered in 2025.
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Jumia fires over 900 workers, stops food delivery operations in Egypt, 2 others
Jumia explained that it decided to cease a number of activities as part of its goal of focusing on core areas of the business with attractive returns.
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Saudi's Al-Sharif group awards $16mln Shepheard Hotel redevelopment contract to SIAC Contracting
$46mln is the estimated cost for the renovation and development of the historic Cairo property.
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Finance minister says 42,000 expats apply to import cars for personal use
As many as 13,000 payment orders worth about $202 million have been issued, as well as 2,900 import approvals, the minister made it clear.
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HAL, Egypt Tejas aircraft contract in the works
HAL will supply 35 Tejas LCA Mk-1A to Egypt, as well as provide a complete transfer of technology (ToT) for Egypt to produce the aircraft locally.
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How the real estate market in Cairo, Egypt has changed over the last decade
The increased activity in the market has also been driven by a growing population and a growing economy, an more people moving to Cairo.
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Al Baraka Bank-Egypt’s 2022 consolidated profits hit $56mln; dividends proposed
Earnings per share (EPS) stood at EGP 2.12 last year, higher than EGP 1.37 in 2021, according to the income statements.
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Egypt's strategic sugar reserves enough for more than 3 months
The country's local production can provide 90% of consumption needs, it added.
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Egypt released $3.7 billion worth of goods stranded in ports in 18 days
Egyptian government released $3.7 billion worth of goods from ports from February 1st to 18th, according to Egyptian Cabinet spokesman Nader Saad.
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Saudi, Emirati investors express their desire to invest in Egyptian market
This came during a promotional tour by an Egyptian delegation to both Saudi Arabia and the United Arab Emirates (UAE).
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EIPICO’s board approves issued capital hike to $48mln
In the first nine months of 2022, EIPICO recorded an annual surge of 28.80% in consolidated net profits.
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5 Indicators that reveal the direction of Egypt’s Economy
Policy makers see it different this time, after a large group of promised reforms that will transform Egypt’s markets and its economy.
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Egypt court to rule soon in case over Intesa's local unit
Egypt is seeking to raise cash after its financial markets suffered heavy foreign investment outflows in the wake of the Ukraine war.