News
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Official: Samsung plans to invest US$35 million in Egyptian market
Samsung's new move comes as part of the second phase of its expansion plan in the Egyptian market, added Fahmy.
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Egypt Suez Canal revenue at $482.2 mln in July
Revenue from Egypt's Suez Canal rose by 8.6 percent in July to $482.2 million from $443.9 million in June.
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Egypt, Israel near major gas deal
After years of buying under-valued Egyptian gas, Israel would sell gas to its neighbour in a deal expected to be finalised in months.
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Egyptian Industries chambers reject monetary donations to ‘Billion EGP Initiative’
Economy in need of industrial projects – donation initiatives are just “a media show”, say chamber heads.
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Egypt trade deficit down in May
Trade deficit in decline for 10th consecutive month as exports increases 7.6% and imports fall 13.6%.
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Egypt sacks electricity officials amid energy crisis
Egypt has sacked at least eight senior officials in the state-run electricity companies.
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Power crisis threatens industrial sector
Daily reduction of 725m cubic feet of gas at factories; gas supply to EBIC, Alexandria Fertilizers, and Egyptian Fertilizers stopped.
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Egypt seeks to have first, biggest commodities exchange in MENA
Egypt plans to launch the first and biggest commodities exchange in the Middle East in the coming period, said Minister of Supply Khaled Hanafy.
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Egypt pulls bond sale as Suez Canal CDs prompt yield demands
The central bank, which conducts debt sales on behalf of the Finance Ministry, called off yesterday's auction of 2 billion Egyptian pounds.
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Egypt's property owners given 60 days to appeal valuation, taxes
Amendments to the property tax law were issued last week by Egypt's president, as the finance minister refines stipulations.
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How uncertainty managed to negatively affect the Egyptian economy
Al-Sisi has managed to make the economic future of Egypt both uncertain and truly dependent on his person.
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Supply Ministry to sign 1.3B EGP deal for new canning, silo facilities
Bloomberg L.P. Company to execute three logistic projects in Egypt to improve storage and transfer systems.
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Cairo's street vendors left worried after relocation
Sunday's efforts to move downtown Cairo's street vendors to a nearby bus station has left the city's informal sellers fearing for their future.
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Government reduces gas to plants to solve power crisis
EGAS is currently pumping 350m cubic feet of gas per day to fertiliser and cement factories.
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Egypt’s ITIDA, global IDC agree to increase IT investments
ITIDA will launch a special program aiming at helping local IT companies in Egypt to create cooperation opportunities in the African markets.
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Government bodies owe Petroleum Authority EGP 163bn
The Ministry of Finance has accrued EGP 95bn in debt owed to the Petroleum Authority, which includes some EGP 32bn for subsidy differentials.
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NBE signs protocol with Misr El Kheir to pay off debtors' dues
The protocol comes as part of the Bank's attention to help the poor Egyptian families from suffering.
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Egypt, KSA ink two agreements on quality specifications
Egypt and Saudi Arabia have signed two agreements on mutual recognition of certificates of conformity, specifications and quality.
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Egypt imposes property tax on oil and gas fields
Property tax is set at 10 per cent of a unit's rental value and three per cent of a unit's capital value.
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Sisi's government clings to debt to pull Egypt's Oil & Gas from the brink
EGPC had accumulated $6.3 billion in outstanding arrears, of which $1.5 billion was paid back in December 2013.