CAIRO: Committed to putting a smile on the faces of cheese lovers across the country, Bel Egypt – manufacturer of single-serve cheese portions – opened its second factory in Egypt. The company promised to bring in new products as well as boost production for both local and export markets. “We choose to operate in countries …

CAIRO: In a bid to provide high quality management training tailored to the local needs, the International Finance Corporation (IFC) signed agreements with six new training providers to deliver the IFC Business Edge training program. The initiative is designed to enhance the performance of small and medium-sized enterprises (SMEs) in Egypt as well as to …

CAIRO: Want to make your enterprise healthier and more sustainable? Two words: corporate governance. A firm’s corporate governance affects its economic performance and its ability to access long-term, low-cost investment capital. Enterprises with stronger corporate governance strategies have higher firm value, higher profits, and higher sales growth and are able to create a warmer climate …

CAIRO: After being notorious for its greedy revenue collection and hindrance to trade, the Egyptian Customs Authority has now embarked on new reforms that will help it evolve into a facilitator of trade. By adopting the Account Management Service program, the Customs Authority has been able to eliminate bureaucracy at its ports by simplifying goods …

CAIRO: In accordance with recent amendments to the Investment Law, Egypt’s free zones will no longer host industrial projects only, but will extend to include agricultural and service-oriented projects. That is what Minister of Investment Mahmoud Mohieldin confirmed yesterday during announcing the organization of the Second Cairo Investment Forum taking place next December. “This year’s …

CAIRO: Feel like stopping by the Gulf this weekend? For around $40,000 not only can you make the weekend trip, but do it in your own private jet. According to Captain Magdy of Travco Group – one of the largest tourism companies in Egypt – around two to three flights depart weekly between the Gulf …

CAIRO: The National Telecom Regulatory Authority (NRTA) is looking into offering an international gateway license to Egypt’s three mobile operators. This step will open the door for the operators to offer international call services independently, without intervention from Telecom Egypt. Currently the three operators offer international roaming services through Telecom Egypt. For a subscriber to …

CAIRO: What could computer companies and environmentalists possibly have in common? Save the Earth’s climate. That is what technology titans Intel and Google confirmed yesterday as they unveiled the Climate Savers Computing Initiative, a global environmental program that aims at making energy-saving computers the norm. “The goal of the initiative is to drive the efficiency …

CAIRO: In a few months time, shoppers at Omar Effendi ? Egypt’s largest department store ? will finally be able to purchase mobile phones and mobile-related accessories, as well as Etisalat services, exclusively supplied by mobile provider i2. “Omar Effendi, for the first time ever, will offer customers mobile phone sale services and Etisalat services …

CAIRO: In a move that could open new horizons for the Gaza Strip s economy, Egyptian and Palestinian authorities are looking into operating the Rafah border as a main gateway of Palestinian exports to European markets. Both countries’ ministries of transport are to sign a protocol of cooperation that seeks optimum use of the Rafah …

CAIRO: Nine years after first launching its operations in Egypt, MobiNil continues to be an everlasting success story enjoying solid growth in revenue, market capitalization as well as a strong subscriber surge and is moving forward in Egypt’s evergreen telecom market. “Nine years on, and we are still the leading mobile company in Egypt, said …

CAIRO: In a bid to increase access to computers and the Internet, Intel Corporation signed a Memorandum of Understanding (MoU) with the Social Fund for Development Wednesday. The agreement will see delivery of cost-effective Arabic technology to several of the country’s small and medium-sized enterprises (SMEs). “We are confident that we can accelerate IT adoption …

CAIRO: Egypt’s two mobile operators inked a deal on Wednesday with their competitor Etisalat Egypt to provide the new operator with national roaming services for three years. National roaming allows Etisalat Egypt to use the networks of its competitors until it builds an elaborate network of its own. Etisalat will use Vodafone networks in the …

CAIRO: Prime Minister Ahmed Nazif issued a decree appointing Ahmed Saad as chairman of the Capital Market Authority (CMA), replacing Hany Serry El Din; while Maged Shawky continues to lead the Cairo and Alexandria Stock Exchanges (Case). Saad, who will begin his duties as of June 28, said he would update development plans currently being …

CAIRO: As Google is constantly acclaimed for its innovation and ingenuity, it launched a new office in Egypt – almost 18 months after building its Arabization base – paving the way for deeper investments in the entire region. “Over the last 12-18 months, Google wanted to be more local in several markets, especially the Arabic-speaking …

CAIRO: As Egypt aspires to emerge as a business hub amid fierce competition from the UAE and other countries in the region, it is opportune to scrutinize the country’s reform agenda, track its growth rate, and pinpoint obstacles to progress. This was the objective of last Tuesday’s Fifth Business Roundtable with the Government of Egypt, …

CAIRO: With a vision that stretches out beyond building real-estate projects, Emaar has positioned itself as the prime mover and shaker of the region’s construction sector, master planning large scale parcels of land into diverse and fully integrated communities with landscaped parks, schools, retail, entertainment, sports, shopping and dining facilities, as well as medical centers. …

CAIRO: Economist Conferences will be holding the Fifth Business Roundtable with the Government of Egypt on June 5. This high level event will bring together government and business leaders in a day of discussion around the theme of “Turning Egypt into a priority market for international business. The Roundtable draws on Economist Conferences’ global experience …

CAIRO: Walking down the streets of Downtown Cairo in the early 20th century was similar to taking a stroll along the streets of 19th century Europe. The unique architecture combined European styles, when antique buildings were designed by French and Italian architects. Take a walk around the streets of Downtown Cairo nowadays, and your eyes …

CAIRO: Addressing the country’s most influential business leaders present at the American Chamber of Commerce board elections, Prime Minister Ahmed Nazif gave an enticing recipe for growth with competitiveness, innovation and social responsibility at the heart of its main ingredients. “On the economic front, we continue to do well. . Our economy is surprising us …

CAIRO: In a tight race, Omar Mohanna, chairman of the Suez Cement Company, won the election and was declared the new president of the American Chamber of Commerce in Egypt last Wednesday. Three candidates ran for the post. However, the third contestant dropped out of the race, trimming competition between Hamed Fahmy, from Allied Corporation …

DUBAI: It was only a matter of time before the city of over a 1,000 skyscrapers hosted the world’s tallest building: Burj Dubai. Dubbed Emaar’s iconic tower, Burj Dubai features a combination of residential and office space as well as Giorgio Armani’s first branded hotel in the region. Over 700 meters high, the number of …

CAIRO: Gone are the days of conventional TV sets or videos cluttering the living room. People living in Egypt can now walk into a room, hit a button, and instantly be swept up in music or films that originate in a remote closet or even basement in its sleek black-box design. With Archimedia’s launch in …

CAIRO: In a statement by the Cairo and Alexandria Stock Exchanges, the Sixth of October Development and Investment Company (Sodic) made a net profit of LE 50.52 million ($8.88 million) in the first quarter of 2007 – after a net loss of LE 2.1 million in the same quarter last year. According to HC Brokerage, …

CAIRO: Minister of Investment Mahmoud Mohieldin confirmed yesterday that the Egyptian Company for Mortgage Refinancing (EMRC), due to start its financing operations this year, will be receiving an LE 214 million loan from the World Bank. The EMRC, jointly established by the Central Bank and 24 private and public financial institutions, will, according to the …

CAIRO: Transactions on the Cairo and Alexandria Stock Exchange (Case) were particularly vibrant this week, tempting many investors to sell shares. This led to a fall in the Case 30 Index to 7410 points on Wednesday, recording the highest drop this week, but again rising to 7424 points on Thursday. In the abundance of strong …

CAIRO: It might not be a fabrication, after all, that Egyptian cuisine is famous for its lip smacking mix of foods, pickles and juices as well as exclusive to a wide variety of cheese, as Tarek Tawfik, chairman of Food Commodity Council, presented the facts at a press conference to announce Egypt’s participation in Germany’s …

CAIRO: Above all else, US-Egyptian commercial and trade relations are on the rise, with bilateral trade hitting a record of $6.3 billion by the end of 2006, making the US Egypt’s largest bilateral trading partner. “US-Egyptian trade relations are higher than ever. . And we would like to make every effort to continue with the …

CAIRO: If you are a newlywed couple looking for your dream house; or if you are a middle/low-income family hoping to own an apartment; or if you are a tourist seeking to buy a second home in one of Egypt’s cities, your dream might just be a step away from becoming a reality. This was …