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Unified licence to be launched in September: Communications ministry

  /  August 27, 2014  /  Technology  /  No Comments

The three mobile service operators have agreed to the licence’s terms for offering landline services

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Orascom Development Holding registers first profit since 2010

  /  August 27, 2014  /  Business  /  No Comments

The Swiss hotel operator is expecting an improvement in the hotel performance during the second half of 2014

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Saudi-based CPC buys Qalaa’s Sphinx Glass for EGP 1.3bn

  /  August 25, 2014  /  Business  /  No Comments

Qalaa Holdings sells Sphinx Glass in line with its framework to abandon “non-core” projects

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Tahya Masr donations yet to exceed EGP 5bn: Fund board member

  /  August 25, 2014  /  Business  /  No Comments

Salah Diab says board of directors are still reviewing how the fund will be used

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Finance ministry yet to impose property tax on petroleum companies: Adviser

  /  August 25, 2014  /  Business  /  No Comments

Public petroleum establishments will be exempted, while private companies will be subject to the law, says senior Tax Authority official

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Al-Sisi amends Property Tax Law to exempt owning EGP 2m in one unit

  /  August 20, 2014  /  Business  /  No Comments

Amended law says hotels, clubs, hospitals, medical centres and clinics affiliated to the armed forces are exempted from paying taxes

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Supply ministry develops SMS service informing citizens with monthly shares

  /  August 19, 2014  /  Business  /  1 Comment

The new service will reply citizens’ inquiries on all the services provided by the ministry

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11 ministries to provide new Suez Canal project labour

  /  August 17, 2014  /  Business  /  No Comments

A high-level committee will determine the technical and managerial labour required for the project

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Tourism minister denies offering Egyptian citizenship for sale to foreign investors

  /  August 17, 2014  /  Business  /  No Comments

Hisham Zaazou says that if security, judicial and economic authorities approved the project, it can be sent to the cabinet for ratification

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Popular Front of the Suez Canal Axis considers 1 year timeline for new canal ‘enough’, but economists hold doubts

  /  August 16, 2014  /  Business  /  1 Comment

One year is enough because feasibility, technical studies are done, says Popular Front of the Suez Canal Axis member

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Russian wheat supply to cover Egypt needs until July 2015: Grain Industry chairman

  /  August 13, 2014  /  Business  /  2 Comments

Vladimir Putin says Russia will supply Egypt with 5m tons of wheat throughout the year

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Communication ministry discusses ‘Electronic Engineers Syndicate’

  /  August 13, 2014  /  Technology  /  No Comments

Atef Helmy says ministry will provide technological services to the syndicate and its premises under its Technology Homes Programme

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Overdue petroleum debts behind increasing power outages: Egyptera director

  /  August 12, 2014  /  Business  /  No Comments

New electricity stations will join the national grid to reduce power cuts, says minister of electricity

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Tahya Masr Fund open to donations from Ahmez Ezz, other Mubarak-era businessmen: Fund board member

  /  August 11, 2014  /  Business  /  No Comments

Tahya Masr (Long Live Egypt) Fund would be open to donations from the secretary-general of Hosni Mubarak’s National Democratic Party, Ahmez Ezz, according to a member of the board of directors of the fund, businessman read the rest…

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Egypt concludes foreign fundraising for Assiut power station with $55m OPEC loan

  /  August 10, 2014  /  Business  /  2 Comments

OPEC’s latest loan brings the total amount of fund provided by the international organisation to Egypt to $450m

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Stock market surpasses 9000 points for first time since 2008

  /  August 5, 2014  /  Business  /  1 Comment

CEO of Catalyst Partners Finance and Stock denies relation between the surge and the Suez Canal Axis Development project inauguration

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Al-Sisi kicks off new Suez Canal project, lays down tightened completion deadline

  /  August 5, 2014  /  Business  /  No Comments

President calls on Engineering Corps to conclude the project in 1 year rather than 3 years, refuses foreign participation

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Egypt, Saudi Arabia, UAE to discuss details of economic conference

  /  August 4, 2014  /  Business  /  2 Comments

Prime minister says conference will take place in either November or the beginning of 2015

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Mortgage finance down 17.1% year on year in first half of 2014

  /  August 4, 2014  /  Business  /  No Comments

The effect of the CBE mortgage finance initiative to finance low-income housing projects will be felt in the second half of the year, says Cairo University professor

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Group vows to post blacklist of businessmen not donating to Long Live Egypt Fund

  /  August 3, 2014  /  Business  /  1 Comment

Campaign aims to prompt citizens to boycott companies and products of businessmen who did not donate to the fund

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Car sales register 56% year-on-year increase in June: AMIC

  /  August 3, 2014  /  Business  /  No Comments

Report says figures show a significant rise from the same time in 2013, with Chevrolet being the most popular brand

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Government prepares new economic stimulus package: Finance Ministry

  /  August 2, 2014  /  Business  /  No Comments

The new package aims to revitalise and expand the activities of the private sector through removing the “bottlenecks” facing economic key sectors.

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Sinai Cement begins preparations for coal usage

  /  July 23, 2014  /  Business  /  No Comments

Company will link with local contractors and suppliers to equip factory for coal using capabilities

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IDA tenders more than 1,270 land plots for first time since 25 January

  /  July 19, 2014  /  Business  /  No Comments

IDA will accept the applications from 24 August to 25 September, organisation head says

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Ration card commodities prices increased for quality improvement: Ministry of Supply spokesman

  /  July 19, 2014  /  Business  /  No Comments

New ration card system provides citizens 20 privately and government-produced products including meat and chicken items, ministry says

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BP invests $10bn in Egypt

  /  July 16, 2014  /  Business  /  No Comments

British oil company’s north Alexandria project will start production in 2017

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Tourism buses to offer public transportation services in Greater Cairo within weeks

  /  July 16, 2014  /  Business  /  No Comments

Ministry of Transportation says that Cairo governorate will be responsible for managing the buses

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Economists forecast inflation jump in July following fuel price hikes

  /  July 15, 2014  /  Business  /  No Comments

CBE can control inflation rates through increasing interest rates orVice Chairman of Egyptian Association for Financing and Investment Studies

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Mergers and acquisitions in Middle East up 250% in Q2 2014

  /  July 14, 2014  /  Business  /  No Comments

The value of M&A deals in Q2 records $14bn, a Thomson Reuters report says

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1,300 MW addition to electricity grid in August may not end power outages: Energy expert

  /  July 13, 2014  /  Business  /  No Comments

Energy expert Mohamed El-Sobky says if natural gas supplies to power stations do not increase, power outages will continue

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