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Returns on treasury bills rise, negative impact on economic growth expected

  /  July 21, 2014  /  Business  /  1 Comment

Prices jumped 1% for returns on treasury bills in the hours after central bank raised the interest rates by same amount

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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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Culture of cooperation and common goals key to Germany’s victory: WEF

  /  July 14, 2014  /  Business  /  No Comments

By Evline Meshreky A blog published by the World Economic Forum (Davos) attributed Germany’s success in football as well as economically to sustaining a culture of cooperation and common goals, and long-term policies to support read the rest…

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Committee to curb international arbitration against Egypt: PM

  /  July 13, 2014  /  Business  /  1 Comment

Government seeking to settle some 22 investment disputes against Egypt pending before international arbitration “amicably” in order to avoid fines estimated at $20bn

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Subsidy cuts a ‘very important step’: EU ambassador

  /  July 7, 2014  /  Business  /  1 Comment

EU ambassador to Egypt welcomes reduction of subsidies on petroleum products

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‘Catastrophic’ it is!

  /  July 5, 2014  /  Opinion  /  2 Comments

Amnesty International said last week that Egypt is witnessing a “catastrophic” decline in human rights. Indeed, human rights conditions in Egypt are currently a disaster, but the “catastrophe” Egyptians are witnessing these days is all-encompassing. read the rest…

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Tax revenues to increase 1.6% in 2014/2015 fiscal year: Finance minister

  /  July 1, 2014  /  Business  /  No Comments

Ministry of Finance expects tax revenue increases of EGP 6bn or 1.6% due to amendments to real estate and income tax laws, as well as new taxes on stock dividends and distributions

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Backlash against petroleum subsidy cuts as experts cite concern of effects on middle class

  /  July 1, 2014  /  Business  /  No Comments

Cash support for poor may act as safety net, but biggest danger lies in creating new poor by cutting energy subsidies, says professor of socioeconomics Hania Al-Shalkamy

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Economic success can be achieved in 2 years, with ‘sacrifice’ by Egyptian people: Al-Sisi

  /  July 1, 2014  /  Egypt, Politics  /  No Comments

On the first anniversary of the 30 June uprising, the newly appointed president discusses state of economy, pledges to “correct religious discourse”

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Lantern prices increase 20%, Chinese products infiltrate market

  /  June 29, 2014  /  Business  /  No Comments

Ramadan lantern prices increased this Ramadan over last year due to a price increase in raw materials and exchange rate

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Understanding formalisation and its benefits – for all Egyptians

  /  June 25, 2014  /  In Focus  /  1 Comment

Office of Peruvian economist Hernando de Soto responds to Egyptian op-ed, defends benefits of formalisation in developing economies like Egypt

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Government tasked to apply maximum wage: Mehleb

  /  June 23, 2014  /  Business  /  No Comments

Upcoming state budget seeks to apply financial and economic reforms

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Meet the cabinet’s economic team

and   /  June 17, 2014  /  Business  /  No Comments

With the swearing in of the new government, Daily News Egypt reintroduces the cabinet’s returning economic team and profiles the newly appointed ministers, discussing the main agenda and challenges they will have to tackle.

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Final composition of government to be announced this evening: Abdel Nour

  /  June 16, 2014  /  Business  /  No Comments

Ministry of Investment to be separated from the Ministry of Industry and Trade, the minister noted.

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Addressing bureaucracy, administrative corruption necessary for economic reform: Experts

  /  June 14, 2014  /  Business, Economy  /  No Comments

Bureaucracy, complicated investment legislation, and administration corruption are the main stumbling blocks to economic reform, several heads of banks said during the People and Banks Conference last Wednesday. Participants in the conference discussed how to read the rest…

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China state media calls for ‘severe punishment’ for Google, Apple, US tech firms

  /  June 4, 2014  /  Technology  /  17 Comments

US companies such as Yahoo Inc, Cisco Systems Inc, Microsoft Corp and Facebook Inc threaten the cyber-security of China and its Internet users, said the People’s Daily on its microblog, in comments echoed on the front page of the English-language China Daily.

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Mansour’s presidential decrees, and their mark on Egypt’s economic landscape

  /  June 3, 2014  /  Business  /  No Comments

Mansour issued a decree amending the Investment Law, prohibiting third parties from challenging contracts between the government and investors.

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Domestic public debt rises to 83.3% of GDP in first quarter of 2014: CBE

  /  June 3, 2014  /  Business  /  No Comments

Central bank reports estimates net external debt rose by 5.8%, as a result of increased borrowing and higher exchange rates against the dollar

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Latest

Informal system is a ‘structural defect’ of Egypt’s economy: Al-Diwani

  /  June 2, 2014  /  interviews  /  7 Comments

Prohibitive laws and procedures push Egyptians to work in the informal sector, says executive director of Center for Economic Studies

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Latest

Poroshenko faces mammoth task after poll ‘victory’

  /  May 26, 2014  /  Politics, World  /  1 Comment

Poroshenko, a 48-year-old former cabinet minister, had said Sunday he would work immediately to end a bloody pro-Russian insurgency that prevented voting across swathes of the industrial east and to fix a recession-hit near bankrupt economy.

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Egypt outlook: The struggle between a pessimistic present and an optimistic future

  /  May 24, 2014  /  Opinion  /  1 Comment

By Ahmed Abou El Saad and Eric Swats The Egyptian economy Since 2011, Egypt has been hit hard by both ongoing political volatility and social unrest. Four key economic indicators have underscored this reeling economy: read the rest…

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Latest

With tourism at an ebb, hopes for an Egyptian strongman

  /  May 24, 2014  /  Egypt, Politics  /  11 Comments

Sisi’s support campaign in Sharm El-Sheikh is coordinated by a former intelligence officer who now works in tourism.

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Latest

Al-Sisi targeting 7% GDP growth, 8% unemployment by 2017/2018

  /  May 20, 2014  /  Business  /  1 Comment

Discussing the changes in fiscal policies, Al-Sisi’s economic platform stated that budget deficit and public debt should return to “safe levels”.

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Latest

Al-Sisi condemned for withholding his platform

  /  May 20, 2014  /  Egypt, Politics  /  5 Comments

Al-Sisi, Sabahy hold meetings over their presidential campaigns

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Latest

Fighting in Sudan Darfur city kills 4: Medic

  /  May 20, 2014  /  Politics, Region  /  1 Comment

A medical source said the bodies of four people were brought to hospital in the town. Three of the dead were “soldiers” but it was not clear from which force.

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Latest

Elite Libya unit boosts rogue general’s Islamist hunt

  /  May 20, 2014  /  Politics, Region  /  10 Comments

Gunmen stormed the GNC in southern Tripoli on Sunday, two days after an anti-Islamist offensive launched by a rogue general in the eastern city of Benghazi.

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Arabian Cement shares jump EGP 10.39 on first day of trading on EGX

  /  May 18, 2014  /  Business  /  No Comments

CEO says IPO primarily aims to allow exit of investors, and can in the future contribute to increase the company’s capital

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Latest

EGP 135bn spent on subsidies for current fiscal year

  /  May 17, 2014  /  Business  /  2 Comments

By the end of the current fiscal year the amount spent on subsidies will reach approximately EGP 135bn, compared to the EGP 129 billion spent the previous year, according to Al Al-Mula. Petroleum Minister Sherif read the rest…

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Suez Canal development plan to be presented in January 2015: SCA official

  /  May 14, 2014  /  Business  /  1 Comment

Suez Canal Authority expects consortium tasked with preparing the plan to be announced soon

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Al-Futtaim Group Egypt to launch new Honda City model in July at EGP 165,000 starting price

  /  May 14, 2014  /  Business  /  No Comments

By Islam Atris Nile Trading and Engineering Company Al-Futtaim Group Egypt, Honda’s agent in the country, will release the new design of the Honda City model in July at a starting price of EGP 165,000. read the rest…

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