News
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Egypt expects $1.5 bn IMF, AfDB loans by end of 2015
Asked by Reuters when the World Bank and AfDB loans would arrive, Ismail said: "it will be before the end of 2015."
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Egypt's Ramez named best central bank governor in MENA
He was praised by the IMF and the World Bank for taking measures to improve Egypt's economy.
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Global LNG prices rise as Egypt, Jordan ready major tender awards
A second vessel is due to load a cargo from Australia's new Gladstone export plant on Oct. 20 likely headed to Egypt.
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France, Egypt sign contract for delivery of two Mistral ships
The sale of the ships, which had been been built for Russia but were never delivered because of the Ukraine crisis, was initially announced Sept. 23.
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Improvements in Europe's economy provide tailwinds for growth in Egypt
Coordinated and scaled-up support from the international community is critical in stabilizing conditions in the region.
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Nissan to begin local assembling of popular ‘Sentra Sedan’ in Egypt
Nissan already holds a 10% share of the Egyptian market and localisation of its production is a key part of future growth in Africa's largest market.
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Egypt raises taxes on airplane tickets
The tax is imposed on international flights leaving from Egypt only. This excludes flights coming to Egypt and internal flights.
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Hatem Dowidar joins Etisalat Group as chief operating officer
The move comes after 16 years of leadership positions with Etisalat's rival Vodafone Egypt, Vodafone Malta, and Vodafone Group.
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Egypt’s economy to require major external financing in next few years
IMF's ME and Central Asia Department Director Masood Ahmed claims that Egypt’s economy will require considerable external funding in the next years.
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Food industries represent 20% of air exports
Agricultural crops see highest demand especially vegetables and fruits, making up the largest share of the total air cargo products.
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Egypt's annual core inflation rate almost unchanged in September
The monthly core inflation rate inched up 0.79 percent in September compared to a decline of 0.23 percent in August.
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FACTBOX: Egypt and IMF
The history of relations between IMF and Egypt from 1945 and until Egypt requested a loan in 2012.
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Egypt-Israel trade exchange volume hikes to $60M in 2015 H1
Egyptian imports from Israel reached 208 million EGP during 2015 H1, surging from 182 million EGP during the same period of 2014.
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Egypt International Reserves Fall for Third Consecutive Month
President Abdel-Fattah El-Sisi urged his government to cut back on imports to conserve foreign currency. Egypt imports about $60 billion annually.
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Egypt awards four offshore oil and gas exploration licences
Egypt, which once exported gas, has become a net energy importer over the last few years as production has failed to keep up with domestic demand.
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Egypt could offer trilateral cooperation at India-Africa summit
The Third India-Africa Forum Summit is being held in New Delhi from October 26 to 30. It will see over 50 countries from Africa.
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Sovaldi drug for Hep C disappears from the market
The Sovaldi drug for the treatment of Hepatitis C has disappeared from the market, threatening Egypt's plan to treat 1m patients.
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IRG acquires producing assets in Egypt
Current gross production from East Ghazalat is approximately 880 barrels of oil per day.
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Egypt's growth forecast unchanged in latest IMF report
Growth rates in developing countries in 2015 fell to 4% and the global growth rate to 3.1%.
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44 companies obtain tender conditions for 200 MW solar power plant
15 companies to be shortlisted to choose the least expensive bid after conducting technical studies, sources say.