News
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Egypt to host COMESA summit
President Abdel Fattah El Sisi will preside over the summit to consider the establishment of a free trade zone.
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KEPCO to build Korean Nuclear Plant in Egypt
Korea Electric Power Corporation (KEPCO) held “Korean Nuclear Industry Roadshow” at Cairo, Egypt from Nov. 5 to 6.
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US to send "largest" business delegation to Egypt next week
More than 150 US executives representing over 60 companies are considered "US Chamber's largest international trade delegation ever."
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Egypt steel producers lower prices in November
Price cuts come after last month's introduction of temporary import tariffs to protect local steel makers from influx of cheaper steel from abroad.
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Government postpones Economic Summit to avoid Chinese New Year
Dispute surrounding Kuwaiti grant valuing $1bn, Ministry of Finance confirms its arrival, International Cooperation denies.
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Investors' confidence in Egyptian economy increased by 1.8%
The investors' confidence in the Egyptian economy has improved by 1.8 percent during the past week, said Investment bank Beltone Financial.
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Business atmosphere in Egypt of hope & optimism: AmCham
Interview with Hisham Fahmy, CEO of American Chamber of Commerce in Egypt (AmCham).
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Egypt looks to snag a share of golf tourism market
Tourism officials in Egypt has rolled out a new golf tourism initiative aimed at promoting the country as an established golf destination.
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Recession hits Egypt's used car market amid price hikes
The current recession in used car market is related to short of cash after the canal's investment certificates got the lion's share of liquidity.
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Foreign reserves register $1.7bn year-on-year decrease in October
October’s figure marks the fourth consecutive increase in foreign currency since a decrease of around $60m from May’s figure to June.
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Egypt to repay $2.5B Qatari deposit by end of November
The Gulf state provided Morsi’s government with billions of dollars in deposits, grants and energy supplies during his year in power.
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OCI wins appeal to Egypt's tax authority, Sawiris plans large investments
In July, Sawiris was sentenced in absentia to three years in prison and fines worth LE50 million on charges related to the case.
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Egypt's Pioneers Holdings offers to buy 60.2 percent of Arab Dairy
The value of the offer by Pioneers, which already owns 25 percent of Arab Dairy, is more than 200 million Egyptian pounds.
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Mehleb inaugurates Cairo ICT 2014 exhibition and conference
Ministerial emphasis placed on technological zones in each governorate and large-scale telecom sector investments.
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EBRD unveils $30mn credit line towards financing SMEs in Egypt
The EBRD officials underlined ‘Small and Medium-sized Enterprises (SMEs) as the backbone of the economy and financing them as a priority.
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Nobel laureate Zewail urges US not to cut aid to Egypt
Prominent scientist Ahmed Zewail says cutting US aid would threaten mutually beneficial relations between the US and Egypt.
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Egypt's cement firms overcome gas shortages by importing coal
The government has targeted energy-intensive cement companies for cutoffs while its priority has been to preserve gas for power generation.
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Telecom Egypt expects 5 percent takeover of mobile market
The company is ready on the marketing, technical and administrative levels to offer comprehensive telecommunications services nationwide at one time.
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BP to invest $240m in Egypt through 2 new exploration blocks
The two exploration blocks was awarded to BP as a result of the 2013 EGAS bid round.
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Egypt's Arabian Cement agrees joint venture with Brazil's Cementos La Union
The investment cost of 23 million Euros would be financed 50 percent through debt and equity, the statement read.