Latest in Tag: Business Highlight
Latest in Tag: Business
Inflation hikes to 8.1% in April on currency slide
Egyptâs Central Bank decided to keep overnight deposit and lending rates unchanged at 9.75% and 10.75%, respectfully
New $12bn bonds programme announced
The prospectus tasked HSBC Holdings and QNB Global with the rights to organise and administer the programme
Investment minister: New chart for Egyptian investment to be launched soon
A new catalogue of investment opportunities across different sectors will be made available in the coming months
Oil down on China worries, US stockpiles buildup
President Xi Jinping on Friday said China, the world’s second largest economy and top energy consumer, would not sacrifice the environment for temporary economic growth.
Business News: Large banks ranked most efficient while small banks achieve fastest growth
CIB rated as most efficient, followed by NSGB, while HSBC places third due to its refusal to disclose information on its non-performing loans
NSF condemns Suez Canal draft law
National Salvation Front raises five major concerns with proposed law regulating Suez Canal regional development
Al-Nour and FJP clash over Iranian tourism
Islamist parties disagreement during Egyptâs Culture, Information and Tourism Committee discussions
OCI reaches final settlement with Egyptian Tax Authority, will pay EGP 7.1bn
Onsi and Nasef Sawirs removed from travel ban list
Governmentâs decision to accept $450m in American aid receives prospective approval
The agreement stipulated that the United States Agency for International Development (USAID) provide Egypt with $190m of the $450m of aid it is expected to receive from the United States.
Consumer inflation rate rises
Poorest consumers feel commodity price increases most painfully
E-Finance seeks to increase benefit card users to 4.5m
The E-Finance company hopes to increase the number of benefit card users to 4.5m by the end of 2013, with plans to release 10,000 cards next week.
Egypt lifts cooking gas prices, why itâs trivial
By Farah Halime How fitting that on April Foolâs Day, the Egyptian government attempts to deceive us all by claiming that its plans to raise the price of state-subsidised cooking gas for the first time in two decades will actually make any difference to the countryâs energy subsidy spending. In fact, it wonât, and it is unlikely …
El-Araby: Foreign investment in the Arab world drops 37.4%
Main contributing factor to rising unemployment was the inability of governments to attract foreign, Arab and local investment
Reactionary not progressive: Egyptâs economic policy
By Farah Halime In a desperate move to save power, Egyptâs international airport will close most of its runways for four hours each day from early June, Reuters has reported. The airport is the latest casualty of Egyptâs struggle to pay for fuel imports. As if to soften the blow, Reuters quoted the civil aviation minister Wael al-Maadawi …
Thales Group wins Cairo-Alexandria railway upgrade
French company granted rights to install electric signals at an estimated cost of $270m
CBE: âForeign currency reserves did not declineâ
Egyptian Central Bank denies reports of commodity shortages, requests media to be cautious when discussing economic issues
EFG Hermes, QInvest on verge of completing merger
The Qatari partner will hold a 60% stake in the new venture, to be named EFG Hermes Qatar, with EFG Hermes holding the rest
Qatar National Bank buys 100% of NSGB
EFSA has approved QNBâs offer of EGP 38.65 per share for 100% of NSGBâs shares
Political conference held in Sinai
Freedom and Justice Party: We possess the capability to build a strong democratic state founded on Islamic principles
The opposition: the Freedom and Justice party is incapable of leading a country as large as Egypt
Sokhna crisis resolved
The Sokhna strike has ended after much negotiation, with workers finally returning to their jobs after a presidential proposal
Samsung factory gives priority to Beni Suef residents
The companyâs factory in Beni Suef is its first in the MENA region
Mahmoud Al-Garf: A new road map for industrial investments is being implemented
Daily News Egypt interviews Dr Mahmoud Al-Garf, president of the Industrial Development Authority (IDA)
Unemployment hits 13%
Labour force survey for Q4 2012 reveals growing rate of unemployment
OCI NV offer accepted
Abraaj Group and the Sawiris family did not vote
Egypt’s consumer confidence dips nine points in Q4
Optimism for local jobs prospects declined nine points
Sokhna crisis closes port for thirteenth day
Egyptâs transport minister had announced the crisis on 11 February, which resumed yet again as workers insisted on working for DP World
Central Bank dollar supply continues to shrink
$37.8m were sold at a forex auction which began last December at $75m
Blackberry goes all-out with BB10
With a completely new platform, the firm is determined to regain its leading position in the smartphone market
Incentives to attract companies away from the grey economy
Ministry of Investment uses incentives to divert grey economy into formal economy
Shura Council seeks national consensus on sukuk
New draft law for sukuk aims to help the Egyptian economy recover and generate more investment