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Euromoney Conference: North coast land to be offered in February’s Economic Summit: Minister of Tourism

and   /  September 17, 2014  /  Business  /  No Comments

Government targets EGP 19bn investments with 28msquare metres of land, says an official source at the Ministry of Tourism

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Euromoney Conference: EGP 750m funding target by Tanmeyah to finance SMEs: Company president

  /  September 17, 2014  /  Business  /  No Comments

Tanmeyah aims to bring loan to small and medium enterprises by end of 2014 through new loans issuance ranging from EGP 30,000 to EGP 200,000

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Carbon Holdings increases investments in Tahrir Petrochemical Complex to $7bn: Company chairman

  /  September 17, 2014  /  Business  /  No Comments

Carbon Holdings has increased investments for the Tahrir Petrochemical Complex, set to be constructed in Ain Sokhna, to $7bn, said Carbon Holdings’ Chairman and Managing Director Basil El-Baz. El-Baz added that 65% of the project read the rest…

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Euromoney Conference: Dorra considers investing in Suez Canal Axis project

  /  September 17, 2014  /  Business  /  No Comments

Dorra plans to open the first phase of Capital Business Park—administrative, commercial and medical project—in Sheikh Zayed City during the first quarter of 2015.

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Euromoney Conference: Wadi El Nil targets EGP 2bn in sales: Company chairman

  /  September 17, 2014  /  Business  /  No Comments

Wadi El Nil Company for Agricultural Development aims to increase its sales to EGP 2bn during 2014 through various expansions

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Euromoney Conference: Suez Cement factory to begin operating on coal next November: CEO

  /  September 17, 2014  /  Business  /  No Comments

Italgen working on getting permits for second phase focusing on wind energy, CEO

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Court sentences 15 Azhar students to 4 years

  /  September 17, 2014  /  Egypt, Politics  /  No Comments

The Nasr City Misdemeanours Court sentenced Wednesday 11 male and 4 female Al-Azhar University students to four years in prison over violating the Protest Law, the Association for Freedom of Thought and Expression (AFTE) said read the rest…

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Shoukry calls on Spanish counterpart to participate in Egypt’s conference to support economy

  /  September 17, 2014  /  Egypt, Politics  /  No Comments

Shoukry meets with Spanish FM to discuss bilateral relations during ministerial conference in Madrid

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Egypt rejects EU statement on interior affairs

  /  September 17, 2014  /  Egypt, Politics  /  No Comments

Foreign minister summons EU ambassadors to Egypt, informs them of Egypt’s rejection of EU statement

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Despite difficult challenges, Egypt has a considerable economic upside

  /  September 17, 2014  /  Opinion  /  No Comments

By Mohamed A. El-Erian Already struggling to meet citizens’ legitimate needs and aspirations, the Egyptian economy has suffered a series of additional setbacks in recent years. So much so that, for the first time in read the rest…

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Prosecution releases 126 Protest Law detainees

  /  September 17, 2014  /  Egypt, Politics  /  No Comments

Fayoum Court releases 10 detainees, refers 1 to Juvenile Court

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Egypt provides relief aid to Sudan flood victims

  /  September 17, 2014  /  Egypt, Politics  /  No Comments

Aid affirms commitment between the two countries

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Prosecution releases 116 Protest Law detainees

  /  September 17, 2014  /  Politics  /  No Comments

Fayoum Court releases 10 detainees, refers 1 to Juvenile Court

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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…

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$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…

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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…

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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

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AFTE calls for journalists’ release

  /  September 16, 2014  /  Egypt, Politics  /  No Comments

Over 80 journalists detained in course of work, which violates Egyptian government’s international commitments

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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…

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Euromoney Conference: New IPOs to revive stock market

  /  September 16, 2014  /  Business  /  No Comments

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

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Capital market eager to present exchange traded funds (ETF) to investors: EGX chairman

  /  September 16, 2014  /  interviews  /  No Comments

Infrastructure, telecommunication and real estate show stock market promise

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2 projects comprising investments of $3.5bn included in company’s long-term plan: Basil El-Baz

  /  September 16, 2014  /  interviews  /  No Comments

By Alia Stohy and Mahmoud Al-Qasas The Carbon Holdings Company is planning to present its initial public offering (IPO) to the main stock exchange at the value of $2 billion. The company nearly resolved negotiations read the rest…

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Current government will not raise petroleum product prices: Planning minister

  /  September 16, 2014  /  interviews  /  No Comments

National investment veered off its developmental course and we seek to resolve the financial entanglements with government agencies, says El-ArabyBy

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Investment opportunities in Suez Canal Project are endless: Dar Al-Handasah director of operations

  /  September 16, 2014  /  interviews  /  No Comments

Closeness of name between company and army’s engineering corps led to confusion

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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…

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12.5% deficit in FY 2013/2014 budget, financing gap valued at EGP 10-11bn: Finance minister

  /  September 16, 2014  /  interviews  /  No Comments

CBE’s temporary ‘financial’ account is strategic reserve and will not be used to solve budget deficit

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Upcoming period is busy time for petroleum industry: Petroleum minister

  /  September 16, 2014  /  interviews  /  No Comments

Although there will be a $2bn in debts to foreign partners by year end, ministry has paid back $11.2bn to foreign companies during FY 2013/2014

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As much as 20% or more of Egypt’s energy could be solar: Consilio CEO

  /  September 16, 2014  /  interviews  /  No Comments

Solar energy is a supplemental source as it requires subsidies and storage to meet peak hours

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Larger stake in Palm Hills sought: Ripplewood CEO

  /  September 16, 2014  /  interviews  /  No Comments

Collins affirms commitment to support Egypt’s economic recovery, interest in more opportunities in the country

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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

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