News
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Egypt's Zohr: Towards self-sufficiency in gas?
A look at the potential of the local gas sector in the wake of the Zohr Field starting production in December.
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Egypt: Year in Review 2017
Improved performance in Egypt’s key sectors, tighter fiscal management and increased capital inflows drove an economic rebound last year.
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Siemens Gamesa to build 262 MW turbine in Egypt
Construction of the facility is scheduled to be complete in mid-2019, with operations expected by the end of that year.
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Egypt's top imam endorses Bitcoin ban
Egypt's top imam has endorsed a ban on trading in Bitcoin by declaring it "forbidden" by Islam.
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Telecom Egypt says services restored after days of disruption
Users have complained that the disruption of the internet service lasted anywhere between four days to two weeks.
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L&T's construction arm wins Rs 14.5 bn contracts including one in Egypt
Besides, Power Transmission & Distribution Business has bagged orders worth Rs 5.68 billion.
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Recession hits Egypt’s gold market
The average price of 24 carat gold was LE731, and the 21 carat gold was LE639, while 18 carat gold reached LE548, and 14-carat gold LE426.
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Egypt to keep customs exchange rate at 16 pounds in January
Egypt began setting a monthly fixed customs exchange rate in January, following the flotation of its pound currency in November 2016.
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Egypt picks managers for $4B Eurobond sale
The government selected HSBC Holdings PLC, Citigroup Inc., JPMorgan Chase & Co., Morgan Stanley and the National Bank of Abu Dhabi for the sale,
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Egypt to hike Cairo metro fares from next July
Commuters will be charged a base fare of 2 Egyptian pounds for the first 9 stops, and an additional pound for 9 more stations.
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Egypt's EFG Hermes looks to manage renewable energy projects
“We are thinking of establishing a holding company to manage energy projects, like Vortex, but in Egypt,” said Abdel Wahab.
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Flights to Egypt’s seaside resorts unlikely to resume this winter
Russia’s aviation specialists need to carry out more checks at the airports of Hurghada and Sharm el-Sheikh, according to the transport minister.
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India to set up IT centre in Egypt's Al Azhar University
India will be establishing a Centre of Excellence in Information Technology (CEIT) at Al Azhar University.
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Eni produces first gas from Zohr field offshore Egypt
Discovered in August 2015, Zohr is claimed to be the largest gas discovery ever made in Egypt and in the Mediterranean Sea.
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Positive IMF review paves way for $2B transfer to Egypt
The IMF said the transfer would bring the total payout to Egypt since it secured the loan in November 2016 to $6.08 billion.
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Vodafone appoints Egypt CEO as IoT head
Prior to his role in Egypt, Gastaut was CEO of Vodafone’s Partner Markets business.
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Egypt–Japan business forum launched in Tokyo
Nasr called on attendees to support the ministry's entrepreneurship initiative “Fekretak Sherketak”.
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Egypt's Financial Regulatory Authority issues cryptocurrency warning
dealing with cryptocurrencies is considered a form of deception that falls under legal liability and not regulated by any official body in Egypt.
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Egypt-China business cooperation gets stronger during 2017
This year witnessed the first meeting of governmental committees for joint economic and trade cooperation in Tianjin, China.
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Pioneers Holding set to list 40% shares on Egyptian stock market
Real estate of 9 million square meters is owned by Rooya with 6 million worth of it presently in the process of growth.