News
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PHD adds Egypt to global footprint
As per the Omnicom Media Group agency, the move is in direct response to marketer needs for the agency’s expertise and data-first approach in Egypt.
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International organisations forecast positive expectations for Egypt’s economy
IMF increases growth in Egypt to projected 5.2% this year.
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Egypt aims to import 7mn t of wheat in 2018-2019
Egypt harvests its own crop from April through July and has said it is looking to buy over 4 million tonnes from its farmers.
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Royal Dutch Shell to resume deep-water exploration off Egypt
The field is owned by Egypt’s General Petroleum Corporation (EGPC), Malaysia’s Petronas and Shell.
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Russian nuclear energy deals with Egypt reach almost $60bn
According to Rosatom head Alexey Likhachev, the company launched a commercial package of all Egyptian contracts in mid-December.
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Egyptian economy to experience near-term growth: UN official
The implementation of the recent economic reforms in Egypt will subsequently promote development, reduce poverty and unemployment rates.
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Trade exchange between Egypt, China up by 91.1% in Feb
Chinese exports to Egypt increased by 76.9 percent to 828 million dollars, the customs administration said.
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Telecom Egypt says focus is on growth, not Vodafone stake
Telecom Egypt Co. has no immediate plans to sell its stake in Vodafone Egypt and will focus on growing its share of the mobile market.
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Egypt's unemployment rate falls to 11.8% in 2017
Unemployment recorded 14.5 percent in rural areas, versus 9.8 percent in rural areas in 2017.
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Egypt’s credit risk lower than peers’ as investors ignore ratings
Two major credit rating companies rank the country lower than Nigeria and Argentina, two of its main emerging-market competitors.
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Egypt’s smartphone brand market shares for March
Samsung’s dominance of the smartphone market continued in March, increasing its market share of sales by 4% month on month.
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Contractual farming of cotton applied for first time
3 companies contract with Agriculture Ministry to harvest 34,000 feddans.
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Egypt, Morocco to boost trade exchange
Trade exchange between Egypt and Morocco has notably improved over the last period, though it is still below potential.
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Ban on Uber and Careem suspended
Taxi drivers have long complained that both companies enjoy unfair advantages as they neither pay the same taxes nor follow same licensing procedure.
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Egypt to meet investors this week ahead of euro-denominated bond
Egypt has already raised $4 billion through a triple-tranche bond in February.
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Egypt re-elected liaison for WTO African group
Egypt’s election to lead the African group at this time is a renewal of the trust Africa grants to Egypt. The African group comprises 43 WTO members.
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Egypt's net foreign reserves rise to $42.611 bln
In February, Egypt raised $4 billion in a dollar-denominated Eurobond sale to help plug its financing deficit and boost dollar holdings.
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Egypt's non-oil business sector activity shrinks in March
Businesses registered improved export orders for the third consecutive month, a survey showed on Tuesday.
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Egypt in proper competition in the garlic and onion business
Egyptian garlic is spicier than for example Chinese garlic. Also, it contains a lot of oil and is free from pesticides and soil residues.
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UNB-E eyes 5% market share in Egypt within 8 years
Al Nahyan explained that the bank aims to expand its branch network to 48 branches, along with increasing ATMs to 125 machines by the end of 2018.