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German business delegation to visit in September

  /  September 2, 2014  /  Business  /  No Comments

Delegation will discuss possibility of new investments in Egypt

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Government to settle 22 disputes with investors

  /  September 2, 2014  /  Business  /  No Comments

The committee has also drafted solutions for another dispute between the Tax Authority and one steel firm over tax collection as well, according to Mahfouz.

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Egypt’s juice and beverage industry worth EGP 8bn: Federation of Chambers of Commerce chair

  /  September 2, 2014  /  Business  /  No Comments

Beverage business also exports an estimated $180m to foreign markets per year

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Company invests EGP 2bn in construction of hypermarket: Supply minister

  /  September 2, 2014  /  Business  /  No Comments

Private company to supply EGP 2bn to build chain of hypermarkets as part of plan to expand local trade markets in collaboration with supply ministry

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Government begins reviewing bids for renewable energy projects

  /  September 2, 2014  /  Business  /  No Comments

The government has begun reviewing offers submitted by private companies to carry out renewable energy projects in Egypt, said Minister of Electricity Mohamed Hamed Shaker. Shaker added that the four main criteria on which the read the rest…

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WTO supports Suez Canal project: Director General

  /  September 2, 2014  /  Business  /  No Comments

Roberto Azevedo scheduled to meet President Abdel Fattah Al-Sisi on Tuesday

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Feasibility study underway for propylene project through $1.5bn in investments: ECHEM official

  /  September 2, 2014  /  Business  /  No Comments

Three feasibility studies for petrochemical projects to be completed by 2015

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Egyptian cotton exports decrease by 69.7%: CAPMAS

  /  September 2, 2014  /  Business  /  No Comments

Fall in exports is due to a decrease in cultivated area

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UPDATE: Banque du Caire receives Suez Canal investment certificates

  /  September 2, 2014  /  Business  /  No Comments

Cooperation protocol between the Suez Canal Authority, banks and the Ministry of Finance expected to be signed on Tuesday.

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CBE interest rates remain unchanged

  /  September 2, 2014  /  Business  /  No Comments

Early Monday, the Central Bank of Egypt adjusted July’s inflation rate, increasing it from 10.61% to 11.04%

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Al-Sisi approves Suez Canal investment certificates law

  /  September 1, 2014  /  Business  /  1 Comment

Cooperation protocol between the Suez Canal Authority, banks and the Ministry of Finance expected to be signed on Tuesday.

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Labour Law amendments do not meet workers’ aspirations: Rights campaign

  /  September 1, 2014  /  Business  /  No Comments

Coordinator of the “Towards a Fair Labour Law” campaign says they are to submit suggestions to manpower ministry

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Ministerial meeting upcoming to resolve property tax crisis on hotels: Tourism ministry official

  /  September 1, 2014  /  Business  /  1 Comment

Finance and tourism ministers to meet this month to resolve dispute between Real Estate Taxation Authority (RTA) and Chamber of Hotels over property tax law

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EGAS halts pumping of gas to Idku plant

  /  September 1, 2014  /  Business  /  No Comments

The Egyptian Natural Gas Holding company (EGAS) has stopped pumping gas to the Idku liquefaction plant operated by British Gas and GDF Suez, as a result of the increased use of gas by power stations, read the rest…

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Government ends customs evasion crisis in Port Said, grants 40% tax cuts for goods: PM spokesperson

  /  September 1, 2014  /  Business  /  No Comments

By Mohamed Ayyad Prime Minister Ibrahim Mehleb responded to the requests of the Port Said traders to calculate customs on the basis of the bill that determines the actual value of the goods received. A read the rest…

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Latest

Government considers new legislation to counter customs smuggling

  /  September 1, 2014  /  Business  /  No Comments

Legislation to regulate customs transactions and control all ports to eliminate smuggling and prevent entry for non-compliant goods

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Latest

July’s CAPMAS inflation rate 0.18% higher than original figure

  /  September 1, 2014  /  Business  /  No Comments

Annual urban consumer inflation amended to 11.04% instead of 10.61% in July

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Latest

Financially straitened Egyptians exempted from property taxes: Finance minister

  /  September 1, 2014  /  Business  /  No Comments

Ministry of Finance announces the detailed new property tax law for the first time

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Bank contributions to Tahya Masr fund reach EGP 400m

  /  September 1, 2014  /  Business  /  No Comments

Investment bank EFG Hermes makes EGP 20m donation to the fund

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Central bank registers stable foreign reserves in August: Governor

  /  September 1, 2014  /  Business  /  1 Comment

Foreigners’ purchases in bonds and treasury bills registered between $100m and $120m in the past month and a half

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Latest

MOPCO to be listed in capital market early 2015: Company chairman

  /  September 1, 2014  /  Business  /  2 Comments

Chemicals company to launch IPO following completion of expansion projects

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6m tax-exempted Suez Canal investment certificates to be issued: CBE governor

  /  August 31, 2014  /  Business  /  1 Comment

Following the presidential approval of the Suez Canal investment certificate law, protocol to be signed between CBE, four public banks and the Suez Canal Authority

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Hermes allocates EGP 50m for development projects in Upper Egypt, 20m for ‘Long Live Egypt’ fund

  /  August 31, 2014  /  Business  /  No Comments

Investment bank EFG-Hermes Financial has allocated EGP 50m for its sub-organisation Hermes Foundation for Social Development in order to pursue development projects in several villages in Upper Egypt beginning early 2015, according to the bank’s read the rest…

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Latest

3rd year tourism losses will raise insurance premiums 15%: Former Hotels Chamber head

  /  August 31, 2014  /  Business  /  1 Comment

Losses in the tourism sector for the third year in a row are causing companies to raise insurance premiums on hotels and tourist facilities by 15% due to new risks

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Government outfits kiosks for street vendors to transform them into small merchants: PM

  /  August 30, 2014  /  Business  /  1 Comment

North Coast development, social housing, employment, Downtown Cairo, and roads project top Mehleb’s priorities this week

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Overview of banking sector performance over FY 2013/2014

  /  August 30, 2014  /  Business  /  No Comments

Daily News Egypt takes a closer look into the banking sector’s performance over the past fiscal year, with examples of the financial results of state-owned, private and Islamic banks

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NBE receives 800 applications for mortgage funding for low- and middle-income individuals

  /  August 30, 2014  /  Business  /  1 Comment

The Central Bank launched a mortgage financing initiative in April with EGP 10bn for mortgage financing activities. The funds could be used to finance housing for low- and medium-income individuals with concessionary terms for a period of 20 years.

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Latest

Finance Ministry replaces over 42,000 taxis in three phases

  /  August 30, 2014  /  Business  /  No Comments

By Ayat Al-Batawi The Ministry of Finance has renewed 42,300 taxis over three stages of funding, with ministry sources saying that 1020 taxis were replaced and renewed during the 2013/2014 fiscal year. A finance ministry read the rest…

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Public banking exemption from Suez Canal certificates ‘necessary’ to maintain liquidity’: Arabiya Online chair

  /  August 30, 2014  /  Business  /  No Comments

The government’s drive to fund the Suez Canal project through investment certificates is raising fears that private sector banking will be pushed out

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Hotels meet to discuss confronting of sexual harassment, assault in tourism sector: Hany Al-Shaer

  /  August 30, 2014  /  Business  /  No Comments

Hotels chamber studies decisions issued by Ministries of Health and Tourism at a meeting this week

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