Latest in Tag: Daily Highlight
Latest in Tag: Daily
Bank of America expects continued EGP depreciation
EGP value against dollar slumps after CBEâs foreign exchange auction to record EGP 7.14 comparing to EGP 7.083 before the auction
Suez Canal Authority consults investment banks in financing development project
Authority plans to obtain funding through stock market IPO, says media spokesperson
L’azurde to establish third factory in Egypt: Egyptian-Saudi Business Association
L’Azurde will open its first stores in Egypt’s Cairo Festival City Mall in the Al-Tagammu Al-Khamis area of New Cairo.
Finance ministry provides additional EGP 922m for public business sector
Government delayed with presenting next yearâs budget, hesitation about pursuing subsidy reform
50 exhibitors participating in International Franchising Exhibition
Chairman of Egyptian Franchise Development Association says size of direct investments for companies operating under the franchise system in Egypt is EGP 80bn
Egypt imports 60,000 tons of wheat from Ukraine
The wheat supplies will be imported starting on 20 June over a period of 10 days.
Release Elshamy immediately: Amnesty International
Human rights watchdog demands hunger-striking journalistâs release after being moved to solitary confinement
Suez Canal development plan to be presented in January 2015: SCA official
Suez Canal Authority expects consortium tasked with preparing the plan to be announced soon
Unemployment rate up 0.2% year on year
Number of unemployed reached 3.7 million in Q1 2014 compared to 2.4 million in Q1 2010
EGAS to offer international tender to import gas needed for electricity
Egypt looking to secure gas supply during the coming years to keep its power plants running
MTI launches Jaguar F-type Coupe in Egypt
Agent company for Jaguar in Egypt sends requests to UK to supply the new car, after releasing the Jaguar F-Type Convertible last March
CBE sells $1.1bn to banks in âexceptional auctionâ
Banks are required to apply with the amount of US dollars needed as per their clientsâ import needs, the bank says
Government considering raising energy prices for steel factories
Petroleum minister says there is no alternative for adjusting prices of gasoline and diesel fuel to overcome high subsidy costs
Government to halt import of products with local equivalent
Decision in line with ministry of industryâs earlier announcement it is preparing a law obliging governmental authorities to buy local products instead of imported ones
Government agencies owe Ministry of Petroleum over EGP 150bn
Debts owed to the Ministry of Petroleum by other government agencies decreased to approximately EGP 156bn at the end of March, compared to EGP 172bn in February, after the Ministry of Finance paid part of its debts
Egypt obtains Russian gas at lower prices
Egyptâs opportunities for importing liquefied natural gas have increased as a result of US sanctions on Russia
Telecom Egyptâs net profit up 21% quarter on quarter
The communication firm says its year on year net profit dropped by 1.04%
ECES proposes a programme to encourage the integration of the informal sector in the formal economy
If implemented, ECES projects the programme could contribute to an 8% annual increase in tax revenues
Electricity ministry to install meters to prevent power theft in slums
The Ministry of Electricity estimates that 4% of the countryâs annual electricity production is stolen. The estimated value of the stolen electricity is approximately EGP 1bn in subsidies, and an actual cost of EGP 2bn
Industrial Modernisation Centre to help small and medium industrial entities
The project will be implemented in collaboration with the Organisation of Islamic Cooperation
Development of industrial areas expected to miss deadline at end of FY
Industrial Development Authority considering to speak with the ministries of Finance and Planning to extend deadline for completing development of industrial lands
Government to charge tourists $7 development fee
The Ministry of Tourism is imposing the fee for six months to prop up the sector, which collected 43% less revenue during the first quarter of 2014 than it did during the same period in 2013
Next Egyptian parliament to have 630 seats
Number of representatives in next parliament will be extended up to 630 member, 600 of which elected and 30 appointed by the president
BG pumps $1.5bn in Egypt in 2H 2014
The British firm aims to increase its natural gas production to 500m cubic feet of gas per day
FDI records $2.8bn in first half of 2013/2014 fiscal year
Compared to $3bn foreign direct investment in 2012/2013, the FDI figure in the first half of the current fiscal year represents a positive economic outlook
EU Ambassador to Egypt applauds government measures to improve business climate
Government’s initiative to rationalise legal framework for investment will encourage businessmen, Moran says
Al Jazeeraâs Elshamy could âdie within a few daysâ: Doctor
Journalist in critical condition as hunger strike reaches 111 days
New price formula for natural gas set at $2 minimum per 1m BTUs
The second method links the price of gas to the international price per ton of urea and ammonia and is applied directly to the manufacturer, according to the official.
Egypt imports 12 shipments of liquid gas, averaging $17 per 20m BTUs
One shipment is about 170,000 cubic metres.
Plants need EGP 60m per day to keep electricity flowing this summer: Official
The government will rely on loans and grants from Gulf countries to fund the deficit, says head of the Egyptian Electric Utility and Consumer Protection Regulatory Agency