Egyptian-Cypriot gas exploration likely to raise tension with Israel
Foreign ministers of Egypt and Cyprus have said the prospect of cooperating to exploit offshore hydrocarbons reservoirs is vast. However a “dispute between Egypt and Israel might ensue”, petroleum agreements expert and member of the read the rest…
Read More →EBRD: investments in Egypt to reach €1.25bn by 2014/15
The meeting highlighted talks of potential strategies for economic reform and boosting European investments in Egypt
Read More →Ministry of Finance tightens fiscal grip
The Ministry of Finance will introduce a new computerised financial surveillance system to rationalise government spending. “The Ministry of Finance has been working on a comprehensive project to computerise the financial operations related to the read the rest…
Read More →Cement prices jump EGP 50 per tonne
Price per tonne fell to less than EGP 460 during August, and remained between the range of EGP 450 to EGP 500
Read More →Vimplelcom plans to give up OTH African units
The Vimpelcom move is reportedly part of a strategy that targets more mature markets in Russia and Italy
Read More →NBE targets EGP 1.1 billion reduction in bad debts portfolio
Four years ago, bad debts portfolio represented 30 per cent of the total credit portfolio
Read More →Plans to erect first petrochemicals industrial parks
IDA has high hopes for parks and new holding company
Read More →Italy-Egypt Forum to be launched in November
The forum will be attended by top-ranking government officials including ministers of foreign trade and industy, agriculture, energy and electricity, investment and transportation
Read More →Qandil visits Algeria for economic talks
Prime Minister Hesham Qandil arrived yesterday in Algeria for a three-day visit amidst speculative press reports over the visit’s agenda. State-owned Middle East News Agency (MENA) reported the objective of Qandil’s visit to Algeria is read the rest…
Read More →‘Global Telecom Holding’ brand awaits the approval of OTH’s shareholders
The board members proposed the company rebrand itself as ‘Global Telecom Holding,’ as a part of the Vimpelcom acquisition and demerger deal, Orascom announced Sunday.
Read More →Monescope Egypt: Domestic liquidity grows 8.9% in August
Monescope Egypt, a monthly tracker of monetary developments attached to Belton Financial, reports that M2 grew 8.9 per cent in August, compared to 8.1 per cent in July.
Read More →News of Sukuk issuance agreement creates confusion among Islamist parties
The Ministry of Finance’s head of the Public Debt Unit, Samy Khallaf, declared that a preliminary agreement has been reached with 10 international investment banks to carry out the procedures of issuing the first Egyptian read the rest…
Read More →Al-Saeed: MENA Transition Fund launched with capital of $250m
Minister of Finance Momtaz Al-Saeed, announced the establishment of a MENA Transition Fund with an initial capital of $250 million, in a press release.
Read More →Morsy attacks non-compliant companies
President Mohamed Morsy targeted five companies yesterday, stating that they owe the government more than EGP 100 billion. Morsy’s lengthy speech commemorating the 39th anniversary of the October war against Israel was turned into a read the rest…
Read More →Sukuk law remains under deliberation
Islamic political parties push for the Sukuk law
Read More →Closing price mechanism to be launched Thursday
The Egyptian Stock Exchange (EGX) will implement a new closing price mechanism on Thursday. Egypt’s financial watchdog, the Egyptian Financial Supervisory Authority (EFSA), approved the new regulations for changing stocks’ closing prices, as suggested by read the rest…
Read More →Islamists to meet with Saleh to discuss Sukuk Law
Members of prominent Islamist parties are set to meet with Minister of Investment Ossama Saleh next Monday to discuss the possibility of introducing Islamic debt guidelines. “This meeting is mainly to coordinate between political parties read the rest…
Read More →Emirates Heights denies non-compliance allegations
Emirates Heights, a touristic real estate developer, hosted a roundtable with representatives from the Egyptian press to clarify the company’s position, after a series of protests against the company were triggered weeks ago, against the read the rest…
Read More →Kuwait injects $60.5 million into Egypt’s gas sector
The Kuwaiti government, represented by the Kuwait Fund for Arab Economic Development (KFAED), has a signed a deal to loan 17 million Kuwaiti Dinars ( $60 million) to aid the expansion and development of the read the rest…
Read More →Beltone’s New Dawn conference reinforces government’s vision
Under the auspices of Prime Minister Hisham Qandil, Cairo-based Beltone Financial Holding launched a three-day conference on the future of investment in Egypt, titled New Dawn. The conference aims to provide a platform for discussion read the rest…
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