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Government should be investment partner with entrepreneurs: Pokeware CEO

  /  April 23, 2014  /  interviews  /  1 Comment

Adviser to US vice president says having free and clear access to internet, without fear of cutoff, should take priority

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Correction: SODIC registers EGP 477m net loss in 2013

  /  April 23, 2014  /  Business  /  No Comments

The Daily News Egypt reported yesterday that real estate company Sixth of October Development and Investment (SODIC) reported a net profit of 229m, however, 2013 actually ended with a net loss of EGP 447m. “The read the rest…

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Egypt, UNIDO in $2.9m cooperation for development of medical, aromatic plants: Industry minister

  /  April 22, 2014  /  Business  /  2 Comments

Cooperation will include founding and activation of “first quality organisation for the production, trading and manufacturing of medical and aromatic plants”, says minister

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Hurghada and first phase of Safaga ports to open in June: Ministry of Transportation

  /  April 22, 2014  /  Business  /  No Comments

95% of ongoing developmental projects in Hurghada port have been completed, RSPA head says

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Egypt, Saudi Arabia, to sign 2 new agreements to facilitate trade

  /  April 21, 2014  /  Politics  /  1 Comment

The agreements will help both countries fight smuggling, says president of Egyptian Customs Authority

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Philips Lighting installs second Community Light Centre

  /  April 21, 2014  /  Business  /  1 Comment

Philips Egypt’s CEO says the company is introducing the first generation of solar powered LED lighting solutions for Egypt and Africa

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New Egyptian satellite launched into orbit over Kazakhstan

  /  April 16, 2014  /  Technology  /  4 Comments

Satellite will serve industrial, agricultural, mineral, planning and environmental fields in Egypt, says cabinet spokesman

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TE Data launches M3ak service for the disabled

  /  April 16, 2014  /  Technology  /  1 Comment

The company hired 10 employees with hearing disabilities to serve similarly disabled clients

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Armed forces finalise plans to build 1m youth residential units

  /  April 15, 2014  /  Business  /  1 Comment

Construction on the project, launched by former defence minister Abdel Fattah Al-Sisi, is expected to begin in December

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Civil society organisations call for budget transparency

  /  April 15, 2014  /  Business  /  2 Comments

Finance ministry has failed to meet legal obligations in publishing budget drafts for the state, economic bodies and public sector, joint statement says

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Gulf support should not substitute for long-term economic reform: IMF official

  /  April 15, 2014  /  Business  /  1 Comment

Egypt must address “imbalances in the budget”, generate jobs, and improve living standards, says Massod Ahmed, IMF’s Middle East director

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Egypt ranks second in the World’s Richest Arabs list: Forbes Middle East

  /  April 14, 2014  /  Business, Trade  /  2 Comments

According to Forbes Middle East’s counts, the total worth of the Egyptian Sawiris family is $13.2bn

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Arabia Group investing in 1m square metre project in Sinai: Chairman

  /  April 14, 2014  /  Business, interviews  /  1 Comment

Tarek Shoukry believes the prices of the property units by around 25%.

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50% of Egyptians ineligible to benefit from social housing programme: EIPR

  /  April 13, 2014  /  Business  /  3 Comments

Government minimum income regulations exclude poorest categories of Egyptians, but include the middle, upper middle and rich classes

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150 loaves of bread per month, per citizen under new subsidy plan: Supply minister

  /  April 13, 2014  /  Business  /  1 Comment

New automated bakery launched in Port Said

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Cairo Festival City’s second phase to cost EGP 4bn

  /  April 12, 2014  /  Business, Infrastructure  /  1 Comment

The current estimated cost for the project’s third phase is EGP 8bn

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Annual Inflation rate hits 10.2% in March

  /  April 12, 2014  /  Business, Economy  /  1 Comment

Exchange rate depreciation, money expansion, supply shortages, recurrent wage increases are attributed to wave of increasing inflation, says IMF’s Toward New Horizons report

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World Bank watches unfolding of political situation with great concern: Bank president

  /  April 12, 2014  /  Banking, Business  /  2 Comments

World Bank has helped finance several projects in various sectors during the past year

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Cabinet to kick off food and commodities discounts

  /  April 9, 2014  /  Business  /  1 Comment

Discounts are meant to counterbalance increasing inflation rates, cabinet says

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Oil company introduces its ‘most advanced modern technology’: Shell Egypt

  /  April 9, 2014  /  Technology  /  1 Comment

Company says its “Helix Ultra” is the most advanced oil yet

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$1.7bn cooperation agreement signed between Egyptian, Italian, Dutch companies

  /  April 8, 2014  /  Business  /  1 Comment

Rate of establishing new companies in March hits 9-year high, Abdel Nour says

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70% of Egyptian youth believe traditional energy sources should be subsidised: ASDA’s Burson-Marsteller

  /  April 8, 2014  /  Business  /  2 Comments

Egyptian youth express concern for rising costs of living and unemployment, according to the 2014 Arab Youth Survey

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Overview of financial aid packages to Egypt

  /  April 7, 2014  /  Business  /  5 Comments

Egypt has received nearly monthly financial support from international institutions and countries over the past 10 months. The Daily News Egypt lists the financial packages received from such entities.

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EGP 500m capital allocated for Egyptian Company for Road Projects: Minister

  /  April 6, 2014  /  Business  /  1 Comment

“The capital of the newly established joint-stock company is 100% Egyptian,” says minister of transportation

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ADIB Egypt registers first positive net income since 2007

  /  April 6, 2014  /  Business  /  1 Comment

Net income improves by EGP 958m between 2012 and 2013, marking the first year of positive net income since the Emirati consortium acquisition in 2007.

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Cabinet tackles energy, construction issues; investor disputes

  /  April 5, 2014  /  Business  /  1 Comment

Cabinet approves investor settlement and petroleum agreements, allocates money for electricity and construction

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Ministry of Transportation signs $800m MOU with China for railway project

  /  April 5, 2014  /  Business  /  1 Comment

Project will construct first electric traction railway system in Egypt

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Minister of Planning in Athens to discuss EIB’s Mediterranean investment strategy

  /  April 2, 2014  /  Business  /  1 Comment

To date, Egypt has received €6bn for the European Investment Bank

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Online shopping on the rise in Egypt: MasterCard

  /  April 2, 2014  /  Technology  /  No Comments

Souq, Jumia, Amazon and Facebook the most commonly used online shopping websites

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1H FY 2013/2014 BOP registers $2bn surplus

  /  April 1, 2014  /  Business  /  1 Comment

The current account balance came in at $755.8m, down from $757m registered during 1Q FY 2013/2014

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