News
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Egypt's central bank sells $118.7 million at Tuesday auction
Egypt's public prosecutor is investigating several bureaus accused by the central bank of hoarding dollars.
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Power ministry owes $148m to General Electrical
The ministry has developed a plan to implement replacement, renovation, and maintenance operations for the plants to save fuel and raise efficiency.
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Islamic banking garners 8.4% of Egypt market share
There are around 232 Islamic branches, Al-Beltagy added, saying the number of clients of Islamic banks has reached 2.8 million.
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Egypt targets $5bln in trade with Algeria
Fathy invited member firms of the Egyptian export councils to take part in promotional visits to prop up their products in Algeria.
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UAE to support Egypt’s foreign exchange reserves with $2bn funding
The CBE announced that the balance of the foreign exchange reserves increased to $16.561bn in March, and is expected to increase to about $18.5bn.
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Egypt to announce bids for oil exploration in April
Bids will be launched in 11 blocks in the Western Desert and the Gulf of Suez before the end of April.
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ENGIE signs two energy deals with Egypt
ENGIE and its partners are already conducting a number of renewable energy projects in Egypt.
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Egypt wants Russian electronic equipment for Mistral carriers
The Egyptian military asked Russia to supply electronic systems for the Mistral class helicopter carriers bought from France.
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Egypt Chamber of Commerce delegation starts annual 'Door Knock' in Washington
The delegation aims to meet officials and policy makers from the International Monetary Fund, the World Bank, and the US State Department among others
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Egypt’s economy to grow just 3.5 per cent in 2016/17
analysts predicted that Egyptian pound would weaken in the coming financial year, reaching 9 pounds to the dollar in 2016/17 and 9.5 the year after.
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Egypt gets German mediation offer and French cash
The deals and offers were extended by French President Francois Hollande and German Energy and Economy Minister Sigmar Gabriel who are visiting Egypt.
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Sawiris-CI Capital undergoes exceptional examination by EFSA
The examination of the current deal is more accurate than that of Beltone's deal, led to discovering previous violation, says EFSA chairperson.
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Egypt begins domestic wheat procurement, expects 4 mln tons
In March Egypt's grain buyer, GASC, imported 60,000 tonnes of wheat, making stockpiles sufficient until the first week of July.
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IMF projects decrease in Egypt’s inflation rate in 2016 and 2017
Credit rating agency Fitch projected last month an increase in inflation levels in Egypt, given the weaker exchange rate.
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Egypt’s cash transfer programme reaches half-a-million beneficiaries
The programs aim to reach 1.5 million poor families in a country where the poverty rate is above 26 percent.
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Egypt to hold investments talk with World Bank
Nasr will also be leading an Egyptian delegation to Washington that will discuss financial solutions to Egypt’s challenges.
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3 power plants for Egypt for EUR 6 Billion
The total investment cost for the three power plants in Beni Suef, Burullus and New Capital will run to EUR 6 billion.The biggest in Siemens' history.
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Egypt to allocate industrial lands to investors for free
The investment law was among 340 laws reviewed and approved in January by the parliament.
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Egypt to cut fuel subsidies as govt seeks to reduce deficit
Finance Minister Amr El-Garhy told a news conference state energy subsidies would fall to 35 billion Egyptian pounds from 61 billion.
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Iraq plans to import cooking oil from Egypt
The Iraqi trade ministry in December said it planned to reduce government imports of cooking oil from Turkey.