Home
Loading...
You are here:  Home  >  Business
Latest

Reducing subsidy expenses essential to jumpstarting Egypt’s economy: Economists

  /  September 16, 2014  /  Business  /  No Comments

Reducing subsidy system expenses in the 2014/2015 fiscal year (FY) budget will help drive Egypt’s economy forward, economic analysts said at the Euromoney Conference, currently being held in Cairo.. It is essential to reduce public read the rest…

Read More →
Latest

$6bn foreign direct investment in FY 2014/2015: Investment minister

  /  September 16, 2014  /  Business  /  No Comments

Egypt’s total foreign direct investments for FY 2013/2014 measured $6bn, Investment Minister Ashraf Salman said on Tuesday. On the sidelines of the Euromoney conference, Salman said that Egypt is hoping to “touch the $10bn” mark read the rest…

Read More →
Latest

Government to offer bids to generate 8GW from coal and renewable energy: Salman

  /  September 16, 2014  /  Business  /  No Comments

The government hopes to offer two tenders to generate 8GW of electricity from new and renewable energies, said Minister of Investment Ashraf Salman on Tuesday. He added that there are also plans to construct power read the rest…

Read More →
Latest

Egypt needs growth, jobs over economic stability: IMF chief in Egypt

  /  September 16, 2014  /  Business  /  No Comments

Government has set concrete goals for its February economic summit, says Lazard managing director

Read More →
Latest

Suez Canal certificates sold out: CBE

  /  September 16, 2014  /  Business  /  No Comments

Sale raises EGP 61bn for canal extension project

Read More →
Latest

Goal is to pay attention to investors, not privatise: Investment minister

  /  September 16, 2014  /  Business  /  No Comments

Government will pay 30% of total dues to foreign oil companies by year-end

Read More →
Latest

Euromoney Conference: Public-private partnerships underway, but process cannot be rushed

  /  September 16, 2014  /  Business  /  No Comments

Government seeks to launch new projects with private sector participation

Read More →
Latest

Euromoney Conference: Siemens addresses the energy challenges of Egypt

  /  September 16, 2014  /  Business  /  No Comments

Siemens, the global powerhouse in electronics and electrical engineering operating in the energy, infrastructure, industry and healthcare, demonstrated today the importance of dialogue between the public and private sectors in Egypt through its participation in read the rest…

Read More →
Latest

Euromoney Conference: New IPOs to revive stock market

  /  September 16, 2014  /  Business  /  No Comments

Opportunities in petrochemical, real estate, and start-up companies

Read More →
Latest

Euromoney Conference: Egypt’s economic summit under the microscope

  /  September 16, 2014  /  Business  /  No Comments

The business and financial community awaits the Egyptian government’s economic plans to be revealed during the Sharm El-Sheikh summit to be held at the end of 2014 or early 2015. The plans are expected to read the rest…

Read More →
Latest

New council must determine economic roadmap: CIB managing director

  /  September 16, 2014  /  Business  /  No Comments

The council must be independent and serve an advisory purpose, Hisham Ezz Al-Arab says

Read More →
Latest

Euromoney Conference: Tourism Development Authority needs major upgrade

  /  September 16, 2014  /  Business  /  No Comments

The Egyptian official said that the authority needs to undergo a major restructuring in the coming period.

Read More →
Latest

Euromoney Conference: CAOA approves restructuring process, set to establish new departments

  /  September 16, 2014  /  Business  /  No Comments

Tourism Activation Authority will introduce new departments to market to various types of tourists and attract new consumers

Read More →
Latest

Euromoney Conference: Egypt eyes more southeast Asian, Gulf tourists

  /  September 16, 2014  /  Business  /  No Comments

The Egyptian Tourist Authority (ETA) seeks to attract more tourists from Asian and the GCC (Gulf Cooperation Council) as visitors from these countries have largely stayed away since the 25 January Revolution due to political read the rest…

Read More →
Latest

Euromoney Conference: ETA marketing budget to be cut by 25%

  /  September 16, 2014  /  Business  /  No Comments

Marketing budget cuts pushes Egyptian Tourism Authority to make-do with participation in international bourses and increase private sector coordination

Read More →
Latest

90% of energy subsidies to be lifted within 3 years: Finance minister

  /  September 16, 2014  /  Business  /  No Comments

IMF assessment of Egypt’s economy still due before the economic summit, with goal to restore international market confidence, says Dimian

Read More →
Latest

Euromoney Conference: Online advertising project for tourism services begun

  /  September 16, 2014  /  Business  /  No Comments

Tourism Ministry begins using online advertising to attract tourists and target new segments of consumers

Read More →
Latest

Egypt waiting for ‘appropriate moment’ to issue dollar bonds: Finance minister

  /  September 16, 2014  /  Business  /  No Comments

Too early to define the yearly percentage that will be removed from energy subsidies, Dimian says

Read More →
Latest

Troubled factories must solve banking problems with banks: Abdel Nour

  /  September 14, 2014  /  Business  /  No Comments

Minister of Industry and Trade asks troubled factories to solve financial problems with banks themselves rather than with Ministry

Read More →
Latest

Government identifies projects to improve quality of life

  /  September 14, 2014  /  Business  /  No Comments

Yassin Mansour donates EGP 200m for village sanitation projects

Read More →
Latest

Egypt takes steps to increase Egyptian products in Russia

  /  September 14, 2014  /  Business  /  No Comments

Industry minister calls on companies exporting to Russia to establish affiliate offices in Moscow to market products

Read More →
Latest

Government to allocate budget revenues in CBE to Suez Canal investment certificates

  /  September 13, 2014  /  Business  /  No Comments

Ministry of Finance says move comes to ease pressure on the general budget or the Suez Canal Authority after five years

Read More →
Latest

International conference in Egypt requests hosting 50 world largest companies: Investment minister

  /  September 13, 2014  /  Business  /  No Comments

Egyptian consultations in China to attract investments, Egypt to be export centre for Chinese technology firm

Read More →
Latest

RWE injects $300m into its area of concession for FY 2014/2015

  /  September 13, 2014  /  Business  /  No Comments

Germany’s RWE, a Suez Oil Company (SUCO) partner, has increased investment allocations for the 2014/2015 fiscal year to approximately $300m compared to the previous $218m, according to a company official. The new investments will be read the rest…

Read More →
Latest

Egypt to invite IMF to assess economic reforms

  /  September 13, 2014  /  Business  /  No Comments

Ministry of Finance says government will invite IMF before Egypt’s economic summit in February 2015

Read More →
Latest

Government to conduct consultations with IMF to enhance cooperation: Abdel Nour

  /  September 10, 2014  /  Business  /  No Comments

Egypt is an important economic partner and we aim to increase American investments in local market in coming months, says US secretary of state advisor

Read More →
Latest

Bilateral agreements restrict Egypt more than multilateral ones: UNCTAD’s economist

  /  September 10, 2014  /  Business  /  No Comments

Egypt has more than 100 bilateral agreements, each with own conditions and regulations, says Mahmoud El-Khafif

Read More →
Latest

VFS Tasheel causes concern over recruitment practices

  /  September 10, 2014  /  Business  /  No Comments

Expatriate Egyptians acquiring visas through VFS Tasheel say the company is overcharging for visas, frequently asking for as much as EGP 25 just to obtain a number to stand in queues for services.

Read More →
Latest

YoY inflation registers 11.4% in August, highest since January: CAPMAS

  /  September 10, 2014  /  Business  /  No Comments

Prices of hospital services hike by 8.6%, according to the statistics agency

Read More →
Latest

German government to sell stake in energy giant RWE to Russian billionaire

  /  September 9, 2014  /  Business  /  No Comments

Winner of the RWE bid is the second richest man in Russia

Read More →