News
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Egypt relaxes controls on Forex transfers
The change will take effect from January 2014 and cannot be applied retroactively.
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The curious case of the Egyptian economy: not a single recession in 22 years
Egypt’s economy is curious because it is an experiment. It follows no model, and it is driven mainly and solely by its huge population.
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Panel rules machinery cause of Egypt balloon crash
The cause of the crash, near the southern city of Luxor, was a faulty fuel delivery system which caught fire.
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Militant violence turns away tourism in Egypt’s South Sinai
Events in the North do not always impact the South. But the tourism industry does not see it that way.
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Egypt Suez Canal master plan to be finalised in nine months
Egypt wants to turn 76,000 square kilometres (29,000 square miles) around the canal into an international industrial and logistics hub.
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Egypt foreign reserves continue to slide in December
Net International Reserves currently stand at $17.7 billion, Central Bank of Egypt announces.
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Egypt’s stock market regains ground lost since 2011 revolution
By mid-December, the Egypt’s main stock index, the EGX30, closed at the highest point since Jan. 24, 2011.
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Armed Forces to implement an EGP 350m project for developing 30 slum areas
ISDF will provide EGP 350m in investments and the projects will be implemented over a period of 12 months, the statement said.
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Egypt bars Canadian Shi'ites from entering
The Canadians landed in Egypt from Iraq to complete a pilgrimage to Shi'ite sites in the region.
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Egyptian judicial body recommends tuk-tuk import halt on security grounds
Auto rickshaws (tuk-tuks) come under fire for their frequent use in crime, while monopoly assembler defends the mini vehicles as essential.
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Egypt amends energy program to encourage investment: IMF
The IMF noted that Egypt is preparing a program for gas distribution through smart cards in order to encourage investments.
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Egypt summons Qatari ambassador to protest interference
Doha said the Egyptian government's recent decision to label the Muslim Brotherhood a terrorist group was a prelude to kill protesters.
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Egyptian-Saudi association targets EGP 2bn investments in 2014
Large numbers of Saudi businessmen expressed interest in investing in Egypt during the association’s launch party last Thursday.
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Campaign launched against tax evasion
As part of the campaign, 411 tax evasion cases were seized, including various commercial and professional activities.
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Fitch raises Egypt outlook to Stable over Gulf aid, political scene
The rating agency said the country had secured sufficient foreign currency funding for its short-term fiscal and external financing needs.
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Egypt eyes increasing Indian tourists’ arrival
Tourism Minister Zaazou said that they are “aware that there are security concerns about visiting Egypt” but “the tourist has never been target”.
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Delegation of Chinese tourism companies visits Egypt
Chinese tourist companies want to make sure Egypt is a safe destination for their clients.
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Egypt telecom regulator to issue unified telecom license
"(The decision) will achieve needed development and balance in Egypt's telecoms market," the National Telecommunications Regulatory Authority said.
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Egypt freezes assets of 572 Brotherhood leaders
The committee has also decided putting to put 87 schools owned by Brotherhood under the state’s supervision.
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State security prosecution to interrogate Vodafone about advert
The prosecutor general said that the commercial used codes and expressions that are unconventional in adverts.