News
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JTI expands business, investments in Egyptian market
Company launches new brand as part of long-term business strategy for Egypt.
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International tender for gas prospecting in Egypt
EGas will hold an international call for tenders "to explore natural gas and crude oil in the eastern Mediterranean and the Nile Delta.
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Russian experts to visit Egypt to discuss resumption of charter flights
Russian President Vladimir Putin signed a decree on resuming flights between Russia and Egypt after a two-year-long break on January 4.
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Egypt’s economy growth rate to reach 4.8% in FY2017/18
The IMF announced, expecting Egypt to reach 4.8 percent in the fiscal year 2017-2018 and to reach 6 percent in the medium term.
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Nokia 2 smartphone goes on sale in Egypt
It will be available in black, grey, white, copper and black at EGP 1,750. Battery capacity is 4,100 mA and a charge can last up to two days.
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Business council head urges more Turkey, Egypt trade
For Turkey, Egypt is door to Africa and for Egypt, Turkey is door to Europe: Turkey-Egypt Business Council head Toprak.
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Why Huawei’s market share in Egypt dropped in 2017
Huawei phones’ market share in Egypt during the second half of 2017 fell by 3% to 13.1% at the end of December compared to 15.9% at the end of June.
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IMF sees confidence returning in Egypt’s economy
Egypt’s economy is rebounding and confidence is returning, backed by political and social stability.
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Egypt gets biggest FDI deal since pound float
Dubai-based Al Ghurair Group agreed to put $333 million into a new sugar factory and farm.
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Uber Eats to launch in Egypt and Saudi Arabia this year
Uber Eats allows restaurants to apply to join the food delivery service online.
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Egypt’s economic growth seen at 4.2pc
Growth was seen rising 4.6 percent in the 2019/20 fiscal year. "Economic growth prospects have improved as reform efforts bear fruit.
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Egypt tax revenues up by 62% y-o-y in 1H 2017-18
Tax revenues brought in EGP 249 billion in 1H 2017-18.
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Egypt raises local sugar buying price as cane harvest begins
Egypt expects to produce about 1 million tonnes of sugar from cane this season, which runs from January through May.
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Retailers seek right formula to expand in local market
Fashion has a huge opportunity in Egypt, especially new volume brands, which are starting to expand in governorates.
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Egypt targeting 8-10 flotations of state firms over 18 months
The government said previously they expected the first share offering in the first quarter of 2018, in oil company ENPPI.
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Egypt continues to reap the benefits of rebalancing, reform programme
The current account deficit has also narrowed and recorded its smallest quarterly shortfall in three years in Q3 2017, helped by stronger exports.
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Egypt pays $200 million in foreign oil company arrears in January
Egypt owed foreign oil companies $2.4 billion at the end of June 2017, the petroleum ministry said this week.
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Egypt real estate sector remains hotbed of economy
Current year will witness great foreign investment flows into Egypt’s real estate industry, say developers. Real estate growth expected at 7%.
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Moody's expects growth in Egypt to accelerate to around 5% by 2019
Moody’s expects Egypt’s GDP growth to accelerate to around 5 percent by 2019 and 5.5 percent by 2021, up from 4.2 percent in 2017.
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Economic experts view Egypt’s economy in 2018 with cautious optimism
Authorities introduced the VAT law, devaluated currency, reduced energy subsidies, raised interest rates and acquired loans to reform the economy.