News
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Egypt Car market has no spare parts
The appreciation of the Dollar led to lack of spare parts exceeding 70% of the market size due to the decline in the amount imported and customs rules
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Military role in economy to diminish within 2-3 year
Ismail said the army maintains a role in managing national projects, stressing that the actual work is usually executed by private sector companies.
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Egypt chases own energy sources as government struggle to meet demand
Egypt will boost production of natural gas to 5 billion cubic feet per day in the 2017-2018 fiscal year as the giant Zohr field comes online.
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Dresser-Rand business to supply turbine-generators for Egypt’s Zohr gas field
The company will also provide a service package that includes spare parts supply and on-site maintenance.
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Vodafone Egypt loses out as NTRA revises 4G spectrum allocations
The latest spectrum distribution plan gives Vodafone only 5MHz of LTE-suitable frequencies compared to 7.5 for Orange and 10 for Etisalat.
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Egypt's Sisi meets with US business delegation
Egypt is looking forward to cooperating with the new U.S administration to be elected in January.
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EIB gives €740m loan to support Egypt’s economy
European Investment Bank is providing a €100m loan to the Qatar National Bank to support SMEs.
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A Necessary But Insufficient Devaluation
As previous devaluations show, it is necessary to have a sufficient liquidity shield to maintain control over Forex market.
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Egypt seeks new markets, boosts security as tourism drops
New markets like China, Japan and Ukraine represent a hope for Egyptian tourism after Russia and Britain halted their flights.
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Egyptian authorities confiscate sugar at country's largest food producer
2,000 tonnes of sugar stocks were confiscated after Edita was unable to show original invoices for quantities held at its Beni Suef factory.
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InterCairo Aluminum to cancel IPO procedures due to US dollar exchange hikes
The world prices of aluminium dropped significantly, which has forced the company to retreat from offering its shares on the EGX.
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Orange Egypt turns net loss in first nine months of 2016
While total revenues are up this year, profits for Orange Egypt have dipped into losses to the tune of EGP40.1 million.
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Egypt's GASC buys 120,000 tonnes Russian wheat
The wheat was purchased at the average price of $179.70 a tonne free-on-board (FOB), GASC said.
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Egypt cabinet to cut its spending by 15-20 pct, diplomatic missions personnel in half
The measure comes amid attempts to address Egypt's economic crisis, including an acute dollar shortage and surging inflation.
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Mobile operators compete to launch 4G services
Egypt's mobile phone operators are expected to launch 4G services within a month, says El-Laithy.
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Egypt’s economy to miss government’s growth target
Egypt’s economy is likely to grow 3.5 percent in the 2016/17 fiscal year, missing the government’s target of around 5 percent.
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$7bn decrease in Egypt’s imports over 9-month period
Exports on the other hand increased by $1bn over nine months, says minister.
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NBE reduces foreign exchange cash limit for travelling customers
The bank provides cash for foreign exchange only on condition of reviewing customers' travel documents.
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US working with G7 countries to fund IMF Egypt progra
IMF officials have said that they have held discussions on bilateral financing for Egypt with Saudi Arabia, China, and G7 countries.
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Israel to launch projects in Egypt to help its ‘fragile economy
The Israeli report said that Israel will assist Egypt with several large-scale projects, including solar energy and irrigation.