News
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NBE, Banque Misr, HSBC ok EGP250m finance for Egypt Kuwait Holding
An official banking source said the investment cost to convert into using coal energy project estimated at EGP350million.
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Crowdfunding for education in Egypt: Funding for civil society democratised
Five alternative education initiatives launch crowdfunding campaigns on indiegogo and Facebook simultaneously.
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Cabinet Committee on economic policy reviews financial, monetary indicators
The committee allocated LE1.4 billion to develop the public transport network nationwide, and to add some 1200 new buses to service.
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Bets on property lift Egypt's bourse; banks support Qatar
Egypt's bourse climbed 1.4 percent to a three-week high of 8,429 points as shares in property developer Talaat Moustafa Group jumped.
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Egypt fuel price hikes "positive for credit profile": Fitch
Rating agency applauds recent price increases in subsidised fuels as an "important step" towards reducing "key rating weakness".
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Tourism Minister: Germany to remove travel ban on Sharm al-Sheikh
Zaazou received a call from Hansjorg Haber, Germany's ambassador to Cairo, in which he told him that the ban would be lifted on Sharm al-Sheikh.
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Egypt requests funding for FMS program support
The deal, if it passes Congressional muster, would cover lodging, transportation, security, medical, and other related elements of program support.
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Egypt Bourse still in talks with Etisalat over listing shares
Egypt is aiming to reach an agreement with UAE's mobile operator Etisalat on listing its Egyptian arm's shares in the local market.
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Egypt's reserves fall $600 million due to suspension of Gulf aid
Foreign reserves are now the lowest since the ouster of former president Mohamed Morsi in July 2013.
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BNP sees Egypt yield surge fading as deficit eases: Arab Credit
Sisi’s decision to cut fuel subsidies will reduce borrowing needs, helping lower yields by as much as 1 percentage point by the end of the quarter.
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Egypt offers food discounts after fuel price increase
The military will sell “ample quantities” of food products to help “alleviate the economic burden of the great Egyptian people."
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Egypt to adopt international taxation policy to avoid double taxation
Government struggling to expand resources through tax reform imposing new taxes, fighting tax evasion.
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Sisi: Egypt subsidies cut much-needed 'bitter medicine'
“We have to take this bitter medicine,” Sisi said in a televised national address commemorating Egypt's military crossing of the Suez Canal in 1973.
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Vodafone Egypt ruled out using alternative energy amid fuel price rise
The 3 mobile phone operators are currently studying the effect of fuel prices on their mobile services, Hegazy spoke to Amwal Al Ghad.
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Egypt officials to promote investment in UAE visit
The Egyptian government seeks to mend a funding gap estimated between 17 and 19 billion dollars for the fiscal year 2014/15.
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PepsiCo targeting expansion in Upper Egypt, Delta
The company seeks to expand its operations in Upper Egypt and the Delta to increase its sales as signs of stability grow in Egypt.
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Sawiris-Beltone refuse offered 9.49 percent stake in EFG Hermes
Beltone and Sawiris stated their unwillingness to accept the percentage of shares offered in the targeted company.
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Egyptian minister says "no eambarassment" in British import of Israeli gas
Petroleum minister says there is no 'embarrassment' in Egypt indirectly importing Israeli gas, given Egypt's economic situation and interests.
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Egypt's Prime Minister defends fuel-price increase
Egypt's public has long relied on government-subsidized fuel, bread and energy that account for nearly one-third of the nation's budget.
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Egypt's Beltone, Sawiris bid for EFG Hermes stake attracts less than sought
Beltone and Sawiris's New Egypt Investment Fund had offered around $257 million for the EFG stake at 16.00 Egyptian pounds.