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Ministries of Housing, Industry to settle with 1,250 New Cairo factories to resume work

  /  August 20, 2014  /  Business  /  1 Comment

Concession agreements will be adopted and operation licences issued immediately to allow project managers to carry on working

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Finance ministry announces issuance of EGP 14.2bn for settlement of insurance indebtedness agreement

  /  August 20, 2014  /  Business  /  No Comments

Bonds issued at an interest rate of 9%

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Businessmen want Wealth Tax to be paid in kind; government wants cash payment

  /  August 20, 2014  /  Business  /  No Comments

Investors fear the government will direct proceeds of Wealth Tax to balance the budget deficit without focusing on development projects

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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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Studies on Suez Canal Project to start within days: Dar Al-Handasah operations director

  /  August 20, 2014  /  Business  /  1 Comment

There is an “aggressive” plan to finish the studies as soon as possible, Yehia Zaki says.

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Human rights groups demand access to Gaza from Israel, Egypt

  /  August 20, 2014  /  Business  /  1 Comment

Israel and Egypt have denied human rights organisations Amnesty International and Human Rights Watch entry into Gaza to investigate violations

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Al-Tayyar awaits government response on Cairo land, offers to construct housing units: Managing Director

  /  August 19, 2014  /  Business  /  No Comments

Al-Tayyar Travel Group awaits a response from the governorate of Cairo regarding company ownership of land and offers to construct housing units for low-income families

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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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Former supply minister Ahmed Al-Goueli passes away

  /  August 19, 2014  /  Business  /  1 Comment

Al-Goueli fought and targeted importers of rotten meat in the 1990s

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Egypt’s power crisis worsens as outages approach five hours per day

  /  August 19, 2014  /  Business  /  3 Comments

Electricity deficit increases to approximately 6,180MW, no solution in sight

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TDA to offer 4 investment opportunities for projects in Ain Sokhna: Tourism minister adviser

  /  August 19, 2014  /  Business  /  No Comments

Tourism Development Authority will offer four investment opportunities for integrated development in Ain Sokhna on an area of over 500,000 square metres each

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Egypt to host Libya neighbours’ talks on 25 August

  /  August 19, 2014  /  Business  /  3 Comments

Shoukry and Arab League envoy to Libya discuss possible political solutions to the situation in Libya

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Dar Al-Handasah wins Suez Canal project bid; 8 months needed to finish master plan

  /  August 19, 2014  /  Business  /  No Comments

French engineering services company Egis selected to evaluate performance of project master plan

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Rumours of IMF negotiations untrue: Finance Minister

  /  August 18, 2014  /  Business  /  No Comments

An IMF delegation will visit Egypt before the end of 2014, minister adds

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Government to establish company for SMEs, place 80% of shares in stock market: Planning minister

  /  August 18, 2014  /  Business  /  No Comments

The Egyptian government plans to put up 80% of the shares of a company for small and medium enterprises in the stock market for IPOs in attempt to boost economy

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Latest

No ceiling for acquiring Suez Canal investment certificates

  /  August 18, 2014  /  Business  /  2 Comments

A source close to the project stated that Dar Al-Hanadasah is the Suez Canal bid winner

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Shift in Suez Canal financing comes under scrutiny

  /  August 17, 2014  /  Business  /  2 Comments

Investment certificates expected to encourage investors with higher-than-average interest rates

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Latest

Fuel shortage is the real reason behind the power outages: EGYPTERA head

  /  August 17, 2014  /  Business  /  2 Comments

Daily News Egypt sits down with Hafez El-Salmawy, head of the Egyptian Electric Utility and Consumer Protection Regulatory Agency (EGYPTERA).

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Egypt received $1bn from IFC in 2013: MENA general manager

  /  August 17, 2014  /  Business  /  No Comments

The IFC funded private sector projects in various fields including infrastructure, energy, and small and medium enterprises.

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ITIDA signs cooperation protocol with International Finance Corporation: Communications minister

  /  August 17, 2014  /  Business  /  No Comments

Information Technology Industry Development Agency signed protocol with IFC to strengthen workers’ competitiveness in Egypt’s technology sector

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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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EGP 15bn investment goal for Suez Canal project telecomms sector: Communications Minister

  /  August 17, 2014  /  Business  /  1 Comment

Communications Minister Atef Helmy anticipates investments in the telecommunications and information technology sectors worth up to EGP 15bn

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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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3.7% rise in public sector employees in FY 2013/2014: CAPMAS

  /  August 17, 2014  /  Business  /  No Comments

Number of employees working for government reached 5.752 million, according to the statistics agency

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Latest

China and Israel present alternatives to Suez Canal

  /  August 17, 2014  /  Business  /  2 Comments

China to lead the Silk Road project and take part in Israeli Red Med project

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Mehleb charges 3 ministries, Central Bank with studying Suez Canal project funding: Finance Minister

  /  August 17, 2014  /  Business  /  No Comments

Ibrahim Mehleb charges Finance, Investment, and Planning ministries with studying mechanisms to raise $8bn for new Suez Canal project

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Latest

Qalaa Holding sees EGP 8bn capital increase

  /  August 17, 2014  /  Business  /  No Comments

Company records 46% surge in gross profit year-on-year, report says

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13.3% unemployment during Q2 2014: CAPMAS

  /  August 17, 2014  /  Business  /  No Comments

Work force inches by 0.01% compared to preceding quarter, says statistics agency

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Suez Canal project advances, but many questions left unanswered

  /  August 16, 2014  /  Business  /  2 Comments

Egyptian leadership mobilises all resources to push success for new Suez Canal project amid fears for the fate of Toshka and New Valley

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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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