Latest in Tag: Business Highlight
Latest in Tag: Business
Government to settle 22 disputes with investors
The committee has also drafted solutions for another dispute between the Tax Authority and one steel firm over tax collection as well, according to Mahfouz.
Feasibility study underway for propylene project through $1.5bn in investments: ECHEM official
Three feasibility studies for petrochemical projects to be completed by 2015
Gras Savoye France declares Egypt a regional hub for reinsurance in the Middle East and Europe: Hamid Mabrook, managing director of Gras Savoye Masr
By Mohammad Azab Gras Savoye Reinsurance Brokers recently announced the Arab Insurance Federation Conference, scheduled to be held in Sharm El-Sheikh and attended by a delegation of the group’s representatives in Egypt and France. The conference will transform Gras Savoye Egypt from a reinsurance broker for Gras Savoye RE Egypt into Gras Savoye RE International …
Daily increase of 100m cubic feet of gas production in Egypt
Deficit in fuel for electricity and gas equivalents now stands at 4m cubic metres daily at the expense of factories
We hope to see 2 million British tourists visit Egypt next year: British Ambassador
Britain forms one of Egypt’s most important tourism markets and Egypt hopes to attract 2 million tourists from Britain next year
Businessmen want Wealth Tax to be paid in kind; government wants cash payment
Investors fear the government will direct proceeds of Wealth Tax to balance the budget deficit without focusing on development projects
Arab Contractors to significantly expand Egyptian and Saudi operations: Chairman
In an interview with Al-Borsa, company Chairman Engineer Mohsen Salah talks about the the company’s upcoming expansion projects in Egypt and Saudi Arabia.
Rumours of IMF negotiations untrue: Finance Minister
An IMF delegation will visit Egypt before the end of 2014, minister adds
3.7% rise in public sector employees in FY 2013/2014: CAPMAS
Number of employees working for government reached 5.752 million, according to the statistics agency
Egypt drafting law to protect facilities, criminalises attacks on water and electricity: PM
Government drafts document obliging Toshka development companies to finish within 3 years or face land withdrawal
Arab Contractors has suspended investments worth EGP 610m in Libya until situation stabilises
The Arab Contractors company has investments in Libya totalling up to EGP 610m, according to company chairman Mohamed Mohsen Salah, who added that the projects being implemented by the company include building sewage plants, dams and drinking water projects. According Salah, the company’s projects in sanitation, drinking water and drains are worth EGP 300m in …
Private sector reforms are crucial to reducing unemployment in Egypt: WB
Policies should be designed to provide a competitive environment, according to World Bank report
Aramex to invest EGP 150m to expand storage, transport activities over next 2 years
In an interview with Daily News Egypt, CEO of Aramex Africa Samer Gharaibeh said that the company currently has a storage capacity of 106,000 square metres and hopes to add another 28,000 over the next two years.
General Electric, Bechtel, and Cerberus Capital plan to increase investments in Egyptian market
Prime Minister Ibrahim Mehleb says government to adopt policies and development plans for real economic reform without increasing burden on citizens
Egypt participates in US-Africa Leaders Summit in Washington, DC
Al-Sisi administration hopes to take advantage of the summit to reassure US businessmen regarding the Egyptian economy
Misunderstanding Africa
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 with few exceptions that was largely it. The impact of this was significant. Per capita GDP declined in the 1980s, …
Government will not offer new licences to steel factories: IDA
The cabinet agreed to modify Bianco’s licence to allow the company to produce rebar and billet according to the energy available after paying fees for altering the licence as well as fees for violating the terms of their current licence.
Government considering new cement licences to stimulate economy: Investment minister
Minister of Investment seeks to transfer ownership of Egyptian Financial Supervisory Authority and General Authority For Investment to the president
Ministers of Agriculture, Industry to discuss needs of spinning, weaving companies
Government moves to save the textile industry in view of governmental failure to recognise huge losses incurred
HOG Energi regassification boat to arrive in Ain Sukhna Port in December
The arrival of a regassification boat owned by Norway’s HOG Energi has been delayed to December so that shipments of liquefied natural gas (LNG) may be received in its place. LNG will be imported over the coming years in order to provide for the needs of power stations according to Chief Executive of the Egyptian …
Rise in occupancy to 70% in Red Sea, 55% in South Sinai after German travel warning lift:Tourism minister
Occupancy in tourist accommodations rose after travel warnings lifted in the European market
Egypt to offer investment opportunities in Italy
The Minister of Investment is consulting with the Italian ambassador to increase the volume of trade and joint investments between Egypt and Italy
Luxor considers establishing EGP 22m plant to generate solar electricity: Governor
Plant’s capacity would stand at 2 MW
Egypt aims to boost wheat self-sufficiency
Wheat represented the largest single subsidy expenditure after fuel price support, which was unexpectedly cut at the start of July, increasing the prices of car fuel and natural gas by more than 70% and driving up food prices by 20% according to economists.
920,000 Egyptian pilgrims will visit Saudi Arabia by end of July: Egyptian Travel Agents Association official
El-Sisi predicted the number of Egyptian pilgrims to reach 920,000 by the end of Ramadan in light of widespread interested in Umrah trips throughout the holy month.
Use of electronic payments to pay taxes increases GNP by 0.75% per annum: eFinance study
Electronic payments for taxes increase GNP by 0.75% per annum due to more liquidity available in the country, the study says
UAE willing to invest in oil sector, choosing between current projects: Petroleum minister
Egypt discussed setting up pipelines and depots with Abu Dhabi
Industry minister calls on agricultural exporters to focus on Gulf as alternative to Turkey
Abdel Nour has re-allocated export subsidies following an EGP 500m decrease in FY2014/2015 general budget
IDA demands the removal of rebar from energy-intensive list
Industrial Development Authority wants to end requests being sent to SCE for approval
Germany to lift travel warnings to Sharm El-Sheikh: German Embassy in Cairo
German Ambassador Hansjorg Haber considers lifting travel warnings to Sharm El-Sheikh very soon, according to statements by Tourism Minister Hesham Zaazou