News
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Egypt ups prices of cigarettes
Mohamed Haroun, Eastern Tobacco Company chairman, said his company will impose an increase of 1.5-3 Egyptian pounds, or about 8-17 cents per pack.
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Egypt imports rice to control market, prevent increasing prices
Importing rice does not mean that the local market is in need as local crop to be harvested in the second half of July will cover 90% of local needs.
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Marriott Launches Hospitality Training Program in Egypt
In Partnership with Helwan University the program is focused on fast tracking the next generation of hospitality leaders from Egypt.
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Sisi orders securing basic commodities, tightening market control
The president also stressed the need to provide basic commodities for citizens at affordable prices and a modern and integrated grain storage system.
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Egypt wants $500 million from World Bank
Egypt held discussions with the World Bank for an additional $500m loan for the country’s social housing projects targeting low-income households
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Egypt's inflation rate spikes in June amid price hikes
Egypt's official statistics agency says annual inflation increased to 13.8 percent in June after a new round of austerity measures.
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Italian energy major makes second oil strike in Egypt's Western Desert
The well, some 130 Km north of the oasis of Siwa, is the second one drilled by Eni to explore the deep geological sequences of the Faghur Basin.
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Russia, Egypt to organize industrial exhibition in Cairo in 2019
More than 100 international companies are expected to take part in the event.
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Sisi Directs Officials to Activate Market Control
President Abdel Fattah El Sisi directed officials to boost the measures of domestic trade and tighten market controls.
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Egypt arrests head of Customs Authority for alleged bribery
His case will now be transferred to the public prosecutor, it said, without specifying the likely penalty.
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IMF urges Egypt to watch inflation after new subsidy cuts
The central bank “should retain its restrictive stance to counter second-round effects of fuel and electricity price increases,” the IMF said.
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UK promoting business trade between Britain and Egypt
The Chief Executive of the UK’S export credit agency, UK export finance (UKEF), Louis Taylor, visited Egypt to promote the trading business.
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Second OBG Business Barometer: Egypt CEO survey published
91% described their expectations for local business conditions in the next 12 months as either positive or very positive, up from 79% in OBG’s 2017.
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Telecom Egypt to receive EGP 0.5 bln in dividends from Vodafone Egypt
Vodafone Egypt on 28 June approved the distribution of dividends with a total value of EGP 1.1 billion from the company’s retained earnings.
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Egypt's economy grew 5.4 pct in 12 months to June 30
Egypt’s gross domestic product grew by 5.4 percent in the 2017-2018 fiscal year that ended on June 30, Prime Minister Mostafa Madbouly said.
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ADM, Cargill debut soybean j.v. in Egypt
SoyVen owns and operates the National Vegetable Oil Co. soy crush facility in Borg Al-Arab, along with related commercial and functional activities.
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Trade Exchange bet. Egypt, Poland reaches $418M in 2017
The minister clarified that the Egyptian exports reached $143 million in 2017, compared to $125.6 million in 2016, with an increase of 13 percent.
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Egypt's first smartphone maker sees market share rising by 2020
Mohamed Salem told Reuters in an interview that Silicon Industries Corporation (SICO), was targeting low-income clients in the country.
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Eni denies talk of major new discovery in Egypt
“There are prospects and new (geological) structures in Egypt but we still haven’t discovered anything...,” Chief Executive Claudio Descalzi.
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Veolia signs deal to build Egypt water systems
State-owned Egyptian Electricity Holding Company chose Veolia Water Technologies due to its extensive experience in the power generation market.