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Declining oil prices contribute to budget deficit decrease by $5.5bn: Citadel Holding

  /  December 21, 2014  /  Business  /  No Comments

Citadel Holding expects to achieve earnings totalling $700m in 2017 due to declining oil prices

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No export restrictions from Russia on Egypt

  /  December 21, 2014  /  Business  /  No Comments

GASC recently contracted to purchase 300,000 tons of wheat from France and Russia for subsidised bread

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Egyptian energy investments may decrease due to low global oil prices: Experts

  /  December 21, 2014  /  Business  /  1 Comment

Chairman of the Energy Committee of the FEI expects energy investments to decline and concerns of Arab investments may lead to decrease in investments

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Latest

EGP 100m for premiums and developing Fairmont Hotel: NCIN

  /  December 21, 2014  /  Business  /  3 Comments

Capital increase is used to finance all current financial obligations and repay premiums and interest-free loan

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Latest

Government considers bartering commodity imports from Moscow: Official spokesman

  /  December 21, 2014  /  Business  /  No Comments

A halt in trips from Moscow and St Petersburg to Sharm El-Sheikh and Hurghada due to decline of rouble: AlMasria Universal Airlines chairman

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Over half a million Egyptians offered work contracts abroad: Manpower Ministry

  /  December 21, 2014  /  Business  /  No Comments

Ministry of Manpower offered approximately 150,000 job opportunities between March and December

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Egypt Post Chairman requests investigation of nepotism within Egypt Post

  /  December 21, 2014  /  Business  /  No Comments

Chairman’s decision comes due to numerous complaints of relatives working in same department, says official

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Latest

Amer Group signs contract with Saudi Othaim Holding

  /  December 21, 2014  /  Business  /  No Comments

The move coincides with decision to divide company into Amer Group and Porto Group

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Latest

Trade deficit increases 70.9% in September year-on-year

  /  December 21, 2014  /  Business  /  No Comments

Deficit reaches EGP 27.9bn compared to EGP 16.3bn in corresponding month last year

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Latest

Cement companies look to control market prices in face of production decline: Sector Source

  /  December 20, 2014  /  Business  /  No Comments

Establishment of higher council for building materials sought and introduction of new licence to control irregularly priced items

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Latest

6 Middle East countries lose $35bn as impact of Syrian war and ISIS spread

  /  December 20, 2014  /  Business  /  1 Comment

Analysis suggests Syria and Iraq bear brunt of direct costs of war, losing 14% and 16% in per capita welfare, respectively

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Latest

Fitch Raises Egypt’s Credit Rating to ‘B’

  /  December 20, 2014  /  Business  /  1 Comment

At end of 2014, national debt stood at 90.5% of GDP, and is set to drop to 85.8% of GDP by the end of the FY 2015-2016

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Latest

Russian deal will make Egyptian products more competitive, increase tourism and trade: Russian-Egyptian Business Council member

  /  December 20, 2014  /  Business  /  No Comments

Government sources confirm sufficiency of Russian tourism in Egypt, despite tumble in value of rouble

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Latest

EU supports Egypt with EGP 80m in tourism investments

  /  December 17, 2014  /  Business  /  1 Comment

EU is source of over 50% of foreign direct investment, constituting over 40% of total European direct investment per Mediterranean countries

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Latest

EIPR calls for more budget transparency

  /  December 17, 2014  /  Business  /  No Comments

Budget transparency defined by disclosing more information on budget and providing simple and clear data for public to understand, EIPR study says

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Latest

Stock losses continue, market declines by EGP 15.3bn

  /  December 17, 2014  /  Business  /  No Comments

Total market losses so far at EGP 48bn, while gains amount to EGP 5.9bn

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Latest

Negotiations to resume with Russia to provide natural gas via Gazprom: Deputy Russian PM

  /  December 17, 2014  /  Business  /  1 Comment

Russia is preparing technology with the World Bank to implement the ‘one-stop shop’ investment window system

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Latest

Oriental Weavers to invest EGP 90m in 2015

  /  December 17, 2014  /  Business  /  No Comments

Company outperforms with new automated warehouse and 3 more production lines

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Latest

Stock market sheds EGP 12.4bn, all market indexes decline

  /  December 16, 2014  /  Business  /  1 Comment

A further drop in oil prices results in additional losses for the Egyptian capital market

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Latest

Brent price decrease drives down subsidies in FY 2014/2015 budget to approximately EGP 55bn

  /  December 16, 2014  /  Business  /  1 Comment

Fuel oil, which is supplied into markets, is currently not subsidised, says expert

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Latest

Ayady Company launches with EGP 10bn in capital

  /  December 16, 2014  /  Business  /  No Comments

Government is contributing EGP 2bn to new company

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Latest

EGAS to link 16 gas production wells during FY 2014/2015

  /  December 16, 2014  /  Business  /  2 Comments

Total local production to increase by 200m cubic feet

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Latest

Egypt exports to UK grow by 30% in 2014: Egyptian-British Chamber of Commerce

  /  December 16, 2014  /  Business  /  1 Comment

Egypt-UK trade volume expected to surpass $2bn for first time, chamber says

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Latest

PepsiCo to renovate schools, launch 3 electricity projects worth EGP 4.9m in Sohag

  /  December 16, 2014  /  Business  /  2 Comments

Food-for-Education Project benefits 400,000 Egyptians through providing quality food for low socio-economic classes, women, and children in Egypt

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Latest

Population council, USAID help over 1,400 women start their businesses

  /  December 16, 2014  /  Business  /  No Comments

Over 660 women have found employment opportunities

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Latest

Government studies allow new cement factories to be established: Prime Minister

  /  December 16, 2014  /  Business  /  1 Comment

Government Economic Group discussion takes legal and economic dimensions into account in expanding cement production

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Latest

EGP 3bn for Ministries of Supply, Transport, and Electricity: Minister of Finance

  /  December 16, 2014  /  Business  /  1 Comment

Finance to be given to enhance efficiency of the electricity distribution network to renewable energy power plants

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Latest

Petroleum prices drive stock market down: Experts

  /  December 15, 2014  /  Business  /  1 Comment

Market gains EGP 5.9bn Monday after witnessing a huge loss the previous day

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Latest

Egyptian-Chinese Business Council formed

  /  December 15, 2014  /  Business  /  No Comments

Minister of Industry and Trade Mounir Fakhry Abdel Nour issued a decree Monday stipulating the formation of the Egyptian-Chinese Business Council, headed by Ahmed Al-Sewedy. The decree stipulates in its second article, that the head read the rest…

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Latest

Government plan to attract foreign investments requires stable security situation: Economists

  /  December 15, 2014  /  Business  /  1 Comment

Government is working to improve the business sector to fight slow economic growth, decrease unemployment and improve quality of life through basic economic reform

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