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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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Al-Sisi, Putin seek stronger ties in Sochi

  /  August 12, 2014  /  Egypt, Politics  /  2 Comments

Russian and Egyptian presidents look to coordinate on international issues

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Al-Sisi set for Russia visit

  /  August 10, 2014  /  Egypt, Politics  /  4 Comments

The Egypt State Information Service says Al-Sisi responded to Putin’s invitation and will pay a short visit to Russia Tuesday

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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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Migrants: A treasure for Egypt

  /  August 5, 2014  /  Opinion  /  1 Comment

By Omar Khedr For its 2014 forecasts, the World Bank predicts that Egypt’s economy will grow by 2.4% followed by a further 2.9% expansion in 2015. Endowed with a young population, Egypt has a strong read the rest…

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US confirms support for Egypt’s economic reform programme

  /  August 5, 2014  /  Business  /  No Comments

Government seeks to restore the confidence of international markets in Egyptian economy and gain support for economic reform programme

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Egyptian government presents trade, technology projects to India

  /  August 4, 2014  /  Business  /  1 Comment

Government conducts broad international talks to revive confidence in Egyptian economy threatened by political turmoil

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

  /  July 21, 2014  /  Business  /  8 Comments

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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Latest

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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Latest

Committee to curb international arbitration against Egypt: PM

  /  July 13, 2014  /  Business  /  9 Comments

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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Latest

Subsidy cuts a ‘very important step’: EU ambassador

  /  July 7, 2014  /  Business  /  11 Comments

EU ambassador to Egypt welcomes reduction of subsidies on petroleum products

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Latest

‘Catastrophic’ it is!

  /  July 5, 2014  /  Opinion  /  4 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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Latest

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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Latest

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  /  42 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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Latest

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

  /  June 3, 2014  /  Business  /  4 Comments

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

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Latest

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  /  19 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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Latest

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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With tourism at an ebb, hopes for an Egyptian strongman

  /  May 24, 2014  /  Egypt, Politics  /  27 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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