News
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Swiss-Belhotel signs two new Egypt hotels
The move follows the company’s expansion in Egypt with its first hotel announced recently at Arabian Travel Market 2016.
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Egypt tourism declines 51.7pct in May year-on-year
Although there's a decrease in tourism, Arab tourists coming to Egypt has increased by almost 20 percent.
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Russian industrial zone in Egypt will be launched in late 2018
The companies involved in preparing the presentation assume that a total of $4.596 bln may be invested in the construction of the whole infrastructure
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Egypt’s fiscal position remains unstable
Moody's stated that the current account deficit reached $14.5bn, up from $8.3bn the previous year.
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Egypt non-oil business activity slows for ninth straight month
The Emirates NBD Egypt Purchasing Managers Index (PMI) for the non-oil private sector recorded 47.5 points in June.
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Egypt finally settles wheat fungus row
Egypt's recent ergot regulations wreaked havoc in the market for supplying the world's largest wheat buyer.
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Vodafone Egypt appoints Gastaut as CEO
Gastaut will assume duties starting September.
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Egypt needs more time to reach conclusions on plane crash
The memory chips of EgyptAir 804's black box voice recorder are intact and investigators should be able to access them.
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Egypt central bank chief hints at another devaluation
The central bank has taken steps to ease restrictions on dollar transactions since Amer took office.
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Are Egypt’s economic reforms enough to solve the informal economy problem?
Egypt’s informal economy has grown as a result of dysfunctions in the formal economy, which lacks dynamism, flexibility, and resilience.
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Coca Cola plans $500M investment in Egypt market
Coca-Cola’s plan includes launching a bottling plant in 6th of October City and expanding the concentrates plant in the Free Zone in Nasr City.
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Egypt repays Qatar final $1 bln in outstanding debt
The governor said that Egypt would also soon repay $800 million owed to the Paris Club nations.
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Egypt’s economy needs 20 years to recover
Bureaucracy and corruption are the main factors behind receding investment, says the former head of the Egyptian Businessmen’s Association.
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Egypt bans use of debit cards abroad amid hard currency shortage
Debit cards for accounts in foreign currency can still be used abroad up to a limit of $100,000 as per a 2014 directive, the letter added.
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Egypt’s Beltone Sues Exchange, Regulator Over Canceled Trades
Earlier this month Beltone’s plan to buy Commercial International Bank Egypt’s investment-banking unit failed as regulators held up the deal.
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Vodafone-Egypt appoints Stefano Gastaut as CEO
Vodafone Egypt reshuffled its leadership and appointed Stefano Gastaut as the company’s CEO, replacing Ahmed Essam.
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4G licence will not force Telecom Egypt to sell Vodafone stake
Telecom Egypt said earlier this week it was studying the terms in detail ahead of applying for the 4G licence.
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Egypt's Suez Canal charging VLCCs coming from the Arabian Gulf $155,000
The new toll rates for oil tankers as part of a six-month experiment.
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Egypt approves delegating industrial land allocation to Industrial Development Authority
In April, some industrial land was made available for free to investors, according to the decree published in the country’s official gazette.
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Egypt budget deficit widens to 9.8 percent of GDP
Basic commodities also contributed to the budget deficit, which a rise in tax income failed to contain.