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Novartis grows by 15%: CPO Head and Country President

  /  September 14, 2014  /  interviews  /  No Comments

The Daily News Egypt interviewed Novartis’ CPO Head and Country President Basyouni Abouseif and chief scientific officer at the company, Sameh Rakha, to discuss the company’s progress in Egypt, and the introduction of breakthrough medications read the rest…

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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

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Cabinet agrees to activate local Product Law

  /  September 9, 2014  /  Business  /  No Comments

The law is working to deepen industry, Al-Sewedy says

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Investment in Egypt requires stimuli: GAFI chairman

  /  September 8, 2014  /  Business  /  No Comments

Gafi Chairman Hassan Fahmy asks for bankruptcy law, High Investment Council, and activation of “one-stop shop” to cut down bureaucracy

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Suez Canal certificates on sale for second day

  /  September 6, 2014  /  Business  /  No Comments

The CBE has so far issued 7m investment certificates out of the planned 60m, said Ramez, adding that the bank is still discussing the date of issuing dollar-dominated certificates.

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SFD plans to allocate EGP 2bn to fund projects by year-end: Secretary General

  /  September 2, 2014  /  interviews  /  No Comments

By Ayat Al-Batawi In December 2013, the board of directors of the Social Fund for Development (SFD) approved a budget of EGP 3bn for 2014 to finance development programmes of small enterprises and labour-intensive projects. read the rest…

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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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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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Gras Savoye France declares Egypt a regional hub for reinsurance in the Middle East and Europe: Hamid Mabrook, managing director of Gras Savoye Masr

  /  August 31, 2014  /  interviews  /  1 Comment

By Mohammad Azab Gras Savoye Reinsurance Brokers recently announced the Arab Insurance Federation Conference, scheduled to be held in Sharm El-Sheikh and attended by a delegation of the group’s representatives in Egypt and France. The read the rest…

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Daily increase of 100m cubic feet of gas production in Egypt

  /  August 27, 2014  /  Business  /  1 Comment

Deficit in fuel for electricity and gas equivalents now stands at 4m cubic metres daily at the expense of factories

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We hope to see 2 million British tourists visit Egypt next year: British Ambassador

  /  August 25, 2014  /  Business  /  2 Comments

Britain forms one of Egypt’s most important tourism markets and Egypt hopes to attract 2 million tourists from Britain next year

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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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Arab Contractors to significantly expand Egyptian and Saudi operations: Chairman

  /  August 18, 2014  /  interviews  /  5 Comments

In an interview with Al-Borsa, company Chairman Engineer Mohsen Salah talks about the the company’s upcoming expansion projects in Egypt and Saudi Arabia.

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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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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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Egypt drafting law to protect facilities, criminalises attacks on water and electricity: PM

  /  August 10, 2014  /  Business  /  No Comments

Government drafts document obliging Toshka development companies to finish within 3 years or face land withdrawal

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Arab Contractors has suspended investments worth EGP 610m in Libya until situation stabilises

  /  August 6, 2014  /  Business  /  No Comments

The Arab Contractors company has investments in Libya totalling up to EGP 610m, according to company chairman Mohamed Mohsen Salah, who added that the projects being implemented by the company include building sewage plants, dams read the rest…

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Private sector reforms are crucial to reducing unemployment in Egypt: WB

  /  August 6, 2014  /  Business  /  No Comments

Policies should be designed to provide a competitive environment, according to World Bank report

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Aramex to invest EGP 150m to expand storage, transport activities over next 2 years

  /  August 5, 2014  /  interviews  /  2 Comments

In an interview with Daily News Egypt, CEO of Aramex Africa Samer Gharaibeh said that the company currently has a storage capacity of 106,000 square metres and hopes to add another 28,000 over the next two years.

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General Electric, Bechtel, and Cerberus Capital plan to increase investments in Egyptian market

  /  August 5, 2014  /  Business  /  No Comments

Prime Minister Ibrahim Mehleb says government to adopt policies and development plans for real economic reform without increasing burden on citizens

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Egypt participates in US-Africa Leaders Summit in Washington, DC

  /  August 3, 2014  /  Business  /  No Comments

Al-Sisi administration hopes to take advantage of the summit to reassure US businessmen regarding the Egyptian economy

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Misunderstanding Africa

  /  August 2, 2014  /  Opinion  /  2 Comments

By Robert Tashima   Gold, oil, timber, cocoa: these four words could sum up the essence of African economic development over the 20th century. Investors dug mines, brought in derricks, and chopped down trees, but read the rest…

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Government will not offer new licences to steel factories: IDA

  /  July 20, 2014  /  Business  /  No Comments

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.

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Government considering new cement licences to stimulate economy: Investment minister

  /  July 16, 2014  /  Business  /  No Comments

Minister of Investment seeks to transfer ownership of Egyptian Financial Supervisory Authority and General Authority For Investment to the president

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Ministers of Agriculture, Industry to discuss needs of spinning, weaving companies

  /  July 15, 2014  /  Business  /  No Comments

Government moves to save the textile industry in view of governmental failure to recognise huge losses incurred

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HOG Energi regassification boat to arrive in Ain Sukhna Port in December

  /  July 15, 2014  /  Business  /  No Comments

The arrival of a regassification boat owned by Norway’s HOG Energi has been delayed to December so that shipments of liquefied natural gas (LNG) may be received in its place. LNG will be imported over read the rest…

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Rise in occupancy to 70% in Red Sea, 55% in South Sinai after German travel warning lift:Tourism minister

  /  July 15, 2014  /  Business  /  1 Comment

Occupancy in tourist accommodations rose after travel warnings lifted in the European market

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Egypt to offer investment opportunities in Italy

  /  July 13, 2014  /  Business  /  No Comments

The Minister of Investment is consulting with the Italian ambassador to increase the volume of trade and joint investments between Egypt and Italy

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Luxor considers establishing EGP 22m plant to generate solar electricity: Governor

  /  July 13, 2014  /  Business  /  1 Comment

Plant’s capacity would stand at 2 MW

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Egypt aims to boost wheat self-sufficiency

  /  July 12, 2014  /  Business  /  1 Comment

Wheat represented the largest single subsidy expenditure after fuel price support, which was unexpectedly cut at the start of July, increasing the prices of car fuel and natural gas by more than 70% and driving up food prices by 20% according to economists.

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