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General Authority for Tourism needs restructuring: Egyptian Federation of Chambers of Tourism chairman

and   /  July 26, 2014  /  interviews  /  No Comments

Authority needs change to revitalise incoming tourism, according to consumer studies on the perception of Egyptian tourism abroad

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EIPR criticises state budget as ‘unfair to the poor’

  /  July 21, 2014  /  Business  /  No Comments

Personal rights organisation expresses concerns about the status of the poor in light of approved FY 2014/2015 state budget

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Nuclear plant tender to launch by year’s end; winning country to finance project: El-Osery

  /  July 20, 2014  /  Business  /  1 Comment

Project could cost up to $5bn and will be implemented over 5 years, nuclear expert

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Ireland and Denmark lift travel advisory on Sharm El-Sheikh

  /  July 19, 2014  /  Business  /  2 Comments

Ireland follows in the footsteps of Denmark, Italy and Germany

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SODIC, CIB sign EGP300m loan for Westown project

  /  July 19, 2014  /  Business  /  No Comments

Project expected to yield around EGP1.3bn, company says

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800% increase in capital of bourse’s traded companies: EGX Chairman

  /  July 16, 2014  /  Business  /  No Comments

Increase in public offering registered EGP 5.5bn during first half of 2014

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Egypt closes deal with Gilead Sciences for Hepatitis C drug at 99% discount

  /  July 15, 2014  /  Business  /  1 Comment

Around 170,000 doses of Hepatitis C medicine will be available for Egyptian patients late September

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Abraaj Group to make EGP700m bid to acquire Amoun Pharmaceuticals

  /  July 15, 2014  /  Business  /  No Comments

The company also announced Sunday its intention to acquire 100% of shares of Bisco Misr Company.

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Government officials’ reports on telecommunication sales tax conflict

  /  July 15, 2014  /  Business  /  No Comments

No additional taxes to be announced within the coming period, Finance Ministry official

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Hierarchical restructures next step for Finance Minister: Official

  /  July 14, 2014  /  Business  /  No Comments

Amr Badawi nominated candidate to handle the hierarchical restructures file, says official

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20.7% decrease in tourist arrivals during May: CAPMAS

  /  July 13, 2014  /  Business  /  No Comments

Foreign tourists arrivals not expected to increase during the current year, Chairman of the Egyptian Tourism Federation Elhamy El-Zayat

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Abu Trika’s bank account frozen for not paying taxes: Finance ministry official

  /  July 12, 2014  /  Business  /  No Comments

Account freezing is “a normal step taken with anyone”, the official says

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Q3 of FY 2013/2014 witnessed rises in foreign and domestic debt

  /  July 9, 2014  /  Business  /  No Comments

Foreign debt recorded at $45.3bn, while domestic debt reached EGP 1.7tn

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Strengthening Saudi-Egypt ties reflected in increased exports

  /  July 9, 2014  /  Business  /  2 Comments

Construction material and engineering and electronic goods topped exports to Saudi Arabia from Egypt

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YallaKora.com sees 135% more daily visits than market average

  /  July 9, 2014  /  Technology  /  No Comments

Around 47% of Arab online football viewers visited YallaKora.com, according to the sports’ website

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Product pricing to be ‘clear in next couple of weeks’: Nestle Northeast Africa CEO

  /  July 8, 2014  /  interviews  /  No Comments

Seoudi supermarkets shutdown “were tense days” but distribution is now back to normal, CEO says

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Planning ministry targets 14% investment growth, 3.2% economic growth for FY 2014/2015

  /  July 6, 2014  /  Business  /  No Comments

Government seeks to increase investments to EGP 336.9bn, increase imports by 3.8% and offer 550,000 job opportunities

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Balance of payments surges, deficit drops over 9 months: Ministry of Finance

  /  July 6, 2014  /  Business  /  1 Comment

Industrial production, debt, revenues and expenditures all saw increases

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Surge in fuel prices threatens food commodities

  /  July 5, 2014  /  Business  /  No Comments

Fuel prices to reflect on food commodities, says head of Citizens Against Price Rises Association

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OCI confident in its position in ongoing tax case: Nassef Sawriris exclusively to DNE

  /  July 2, 2014  /  Business  /  1 Comment

We continue to be committed to investing in Egypt, construction tycoon said.

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Finance ministry mulls formation of ETA-Orascom committee: Former Head ETA

  /  July 2, 2014  /  Business  /  11 Comments

Company was acquitted by the prosecutor general on the tax evasion case, invalidating the prison sentence on Nassef Sawiris

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Nassef Sawiris imprisonment verdict suspended

  /  July 2, 2014  /  Business  /  1 Comment

Company says lawsuit was filed by the ETA prior to the prosecutor general’s decision to acquit the company

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Success of government’s goals regarding budget and debt is conditional: Experts

  /  July 1, 2014  /  Business  /  No Comments

Success depends on real growth in investments, a clear vision regarding taxation and cutting government spending

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Budget deficit pushed to 10% of GDP and debt to 90% of GDP: Finance minister

  /  June 30, 2014  /  Business  /  3 Comments

Total expenditure set at EGP 789bn, revenues expected to reach EGP 549bn, EGP 207bn for wages while petroleum subsidies decrease by EGP 44bn

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No intention to re-adjust price offered for EFG-Hermes stock: Beltone-Sawiris alliance

  /  June 30, 2014  /  Business  /  No Comments

The alliance says deal will bring $230m in foreign investments.

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Budget deficit down to 10%, state budget approved by the president

  /  June 30, 2014  /  Business  /  No Comments

Total expenditure set at EGP 789bn while revenues expected to reach EGP 549bn

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Supply ministry continues Ramadan offerings

  /  June 29, 2014  /  Business  /  No Comments

Food commodity prices offered at 30% discount, ministry says

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HSBC sees huge opportunity for credit card growth: Bank’s head of retail and wealth management

  /  June 28, 2014  /  interviews  /  No Comments

Three main factors affect how high or low credit card penetration can be in a country, HSBC official explained

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EFG-Hermes says shares valued at EGP 22.93– 30% higher than price offered by Beltone-Sawiris alliance

  /  June 28, 2014  /  Business  /  1 Comment

EFG-Hermes stated that the evaluation of the IFA was “fair and unbiased”

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Jumia signed six international fashion brands, introduced own brand: CEO

  /  June 25, 2014  /  interviews, Technology  /  No Comments

Growing e-commerce website has 2 million visits per month, ships 2,000 items per day

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