Watches and shoes among most counterfeited products in EU
EU manufacturers lose billions of euros annually as a result of a rising flood of counterfeit goods being brought into the bloc, a fresh report has shown. The situation is…
Parliament approves cybercrimes law
A plenary session of parliament, chaired by Speaker Ali Abdel Aal, approved the cybercrimes law on Tuesday. Parliament rejected a proposal to amend the second and 24th article during the…
Xiaomi ranks 3rd in world mobile sales in May
Xiaomi ranked third on the list of the world's top smartphone sellers during May, following Apple and Samsung, the global smartphone market share of which fell slightly last month to…
Apple slips to 41% of tablet sales in Egypt
Apple’s tablet market share slipped to 41.13% of device sales in May compared to 47.13% in April, bringing the company's market share down 6%. According to a StatCounter report, Samsung…
Egypt PMI back to contraction in May: Emirates NBD
Egypt’s non-oil private sector activity continued to shrink in May to reach 49.2 points, down from 50.1 points in April. Nonetheless, the Purchasing Managers’ Index (PMI) score for May remained…
Nokia sells 79m devices in 80 countries: Nokia Egypt general manager
Tamer ElGamal, general manager of Nokia Egypt, said that during 2017, the company adopted a strategy to provide the most up-to-date technology to users, including in screens and ease of…
Tesla to build its second Gigafactory in Shanghai
Tesla has revealed plans to shareholders that it's working with Chinese officials to build electric cars and battery packs in Shanghai. The carmaker had looked for a location for its…
Parliament approves FY 2018/2019 budget
The Egyptian Parliament approved on Tuesday the fiscal year 2017/2018 general budget with a total expenditure of up to EGP 1.4tn and expected revenues of EGP 938bn. The budget deficit…
EGX loses EGP 22bn Tuesday morning, closes with EGP 15.5bn losses
The Egyptian Exchange (EGX) plunged on Tuesday morning, losing around EGP 22bn in market capital, recording EGP 906bn in total. The losses were driven by random selling from foreign and…
Government allocates EGP 60bn to increase its employees’ pensions, salaries
Additional EGP 4bn approved to increase employee salaries after parliament’s request
