High occupancy in Red Sea and South Sinai pre-Eid Al-Fitr: Hotels Chamber
Occupancies in the Red Sea increased to 70% and South Sinai to 50% before Eid Al-Fitr, expected to rise to 90% and 80% respectively
Read More →Rise of interest rate to have limited effect on stock market: Experts
Economic experts give different reasons for the limited impact of the interest rate hike on the stock market
Read More →7 banks raise interest rates on deposits after Central Bank decision
A recent CBE decision saw an increase in the benchmark overnight deposit rate by 1% to 9.25%, and the overnight lending rate to 10.25%.
Read More →National Bank of Egypt, Banque du Caire, and Banque Misr increase returns on savings certificates
A number of government banks raise returns on savings certificates to attract liquidity, fight inflation, and increase individual returns
Read More →Egyptian banks show ‘impressive growth’ but fall short in Tier 1 capital: The Banker’s report
Tier 1 capital, a core measure of a bank’s financial strength, of National Bank of Egypt and CIB fell to reach the 404th and the 535th position respectively
Read More →Delay in imports of gas for electricity threatens the industrial sector in Egypt
EGAS stopped pumping gas to MOPCO, EFC, and EBIC factories; reduction of 80% of gas needs of cement plants
Read More →Power stations boosting fuel consumption at expense of industrial sector: EGAS
Fuel station deficit worth 6m cubic metres of gas and equivalent daily
Read More →Sanitary measures imposed on Egypt have negative impact on export: ERF
Government should support firms to increase their quality and productivity in order to export
Read More →Finance Ministry expects EGP11bn from special funds and accounts for FY 2014/2015: Ministry official
Annual profit deduction of 10% compared to last year’s 20%, to strengthen involvement of governorates in development projects
Read More →Sinai Cement begins preparations for coal usage
Company will link with local contractors and suppliers to equip factory for coal using capabilities
Read More →Returns on treasury bills rise, negative impact on economic growth expected
Prices jumped 1% for returns on treasury bills in the hours after central bank raised the interest rates by same amount
Read More →Tourism ministry to launch campaign to encourage Europeans to visit Egypt
Tourism authority official says lifting travel warning important step to restore tourism from Europe
Read More →Cairo Nile Shuttle contracts fibreglass company to manufacture Nile taxis
The River Transport Authority is considering the possibility of issuing an experimental operating license for river taxi activities in cooperation with other government bodies involved with Nile River navigation.
Read More →EIPR criticises state budget as ‘unfair to the poor’
Personal rights organisation expresses concerns about the status of the poor in light of approved FY 2014/2015 state budget
Read More →Ganoub El-Wadi proposes international tender for oil and gas exploration
Recent fuel price rise may provide incentive for investments in exploration in Egypt
Read More →Petroleum ministry proposes petrochemical projects worth $540m to UAE
Egypt has proposed three petrochemical projects to the UAE for a total investment of $540m, according to a senior official at the Ministry of Petroleum. The projects included establishing a factory to produce bio-ethanol from read the rest…
Read More →Cotton company asks EGAS to approve debt repayment schedule
Holding Company for Cotton Spinning and Weaving has debts exceeding EGP 1bn, aims to push growth rate to 70% during the current fiscal year
Read More →Youm7 against the purchase of visits to websites
Egyptian newspaper negotiates with Promo Media to develop criteria for ranking news websites
Read More →Al-Borsa website takes the lead in Egyptian economic publications: Alexa ranking
Al-Borsa plans to become an economic news agency at the end of this year, and hopes to expand regionally by launching specialised sites for Arab markets throughout the rest of this year.
Read More →Government will not offer new licences to steel factories: IDA
The cabinet agreed to modify Bianco’s licence to allow the company to produce rebar and billet according to the energy available after paying fees for altering the licence as well as fees for violating the terms of their current licence.
Read More →Nuclear plant tender to launch by year’s end; winning country to finance project: El-Osery
Project could cost up to $5bn and will be implemented over 5 years, nuclear expert
Read More →Interest rate hike to threaten government debt inflation if financial reform fails: DCode Chairman
Central Bank of Egypt increased interest rates by 1% to contain high inflation expected after subsidy decrease and petroleum price increases
Read More →Ration card commodities prices increased for quality improvement: Ministry of Supply spokesman
New ration card system provides citizens 20 privately and government-produced products including meat and chicken items, ministry says
Read More →5 year timeline for tourism companies to repay debts to social insurance fund: Tourism ministry official
Ministry of Social Solidarity has given tourism operators and hotel establishments a 6 month deadline to pay workers’ insurance debts; total debts to be paid in installments over 5-year period
Read More →Ireland and Denmark lift travel advisory on Sharm El-Sheikh
Ireland follows in the footsteps of Denmark, Italy and Germany
Read More →SODIC, CIB sign EGP300m loan for Westown project
Project expected to yield around EGP1.3bn, company says
Read More →UAE to consider providing $3bn in guarantees for debt to foreign partners: Official
A delegation from the Abu Dhabi Investment Authority (ADIA) will arrive in Cairo in the next few days to discuss investing in government debt worth EGP 15bn, a figure that may double in the future, read the rest…
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