Latest in Tag: DNE Highlight
Latest in Tag: DNE
Electricity ministry sets new energy feed-in tariffs
Ministry of Electricity announces prices for electricity generated from solar and wind energies in the framework of combating the energy deficit in the coming months
World Bank delegation to visit Cairo in 2 weeks to address business climate: Investment minister
New guarantees from World Bank for international investors in Egypt for energy, mining and the Suez Canal
Egypt begins collecting property tax for 1.5m residential and non-residential units: Finance minister
Government steps up actions to implement tax reforms amid efforts to increase resources and reduce budget deficit
Shoukry discusses the Middle East and terrorism in UN meeting
Half-solutions will not resolve the issue of terrorism, says Egyptian Foreign Minister
Egypt in the eyes of international rating agencies
Fitch In January, Fitch Rating Agency restored Egypt’s outlook to stable for the first time since it was downgraded to negative nearly three years ago. This reflects an improvement in an economy hammered by years of violence and political instability that had a massive toll on foreign reserves and many industries. The ratings firm, however, …
Aqar Map head urges more government cooperation with real estate developers
The website’s online visitors reached one million visitors last month, compared to 300,000 two years ago
Egypt and its FDI prospects
By Omar El-Shenety No doubt that Egypt has witnessed very rough years since the 25 January Revolution. The economy has been brought to its knees, and now faces stagnation. Growth has stopped at 2% since the revolution, and the government budget deficit scored record levels. Tourism and Foreign Direct Investment (FDI), key sources for foreign …
National Bank of Egypt hopes to open 200 new branches within 3 years
EGP 150m total savings for bank clients with platinum certificates
Minister of Trade and Industry reveals new initiatives to bolster Egyptian economy
Abdel Nour: Industrial developer annexations of land is indispensable
No high growth rate without major role private sector: Investment Minister Ashraf Salman
Arrears to be paid to oil companies and feed-in tariffs to be introduced for new energy that will achieve huge investments in 2014-2015
“There is no bond market in Egypt, and any talk of it is ‘pure fantasy.’”
Helal added that increasing the variety of investment packages could attract 50 times more investors than are currently contributing to the project, in addition to creating a broader class of financially literate investors.
Euromoney Conference: North coast land to be offered in February’s Economic Summit: Minister of Tourism
Government targets EGP 19bn investments with 28msquare metres of land, says an official source at the Ministry of Tourism
Euromoney Conference: EGP 750m funding target by Tanmeyah to finance SMEs: Company president
Tanmeyah aims to bring loan to small and medium enterprises by end of 2014 through new loans issuance ranging from EGP 30,000 to EGP 200,000
Carbon Holdings increases investments in Tahrir Petrochemical Complex to $7bn: Company chairman
Carbon Holdings has increased investments for the Tahrir Petrochemical Complex, set to be constructed in Ain Sokhna, to $7bn, said Carbon Holdings’ Chairman and Managing Director Basil El-Baz. El-Baz added that 65% of the project will be financed by bank loans, while the remaining 35% will be self-financed. He expects the necessary contracts for obtaining …
Euromoney Conference: Dorra considers investing in Suez Canal Axis project
Dorra plans to open the first phase of Capital Business Park—administrative, commercial and medical project—in Sheikh Zayed City during the first quarter of 2015.
Euromoney Conference: Wadi targets EGP 2bn in sales: Company chairman
Wadi Company for Agricultural Development aims to increase its sales to EGP 2bn during 2014 through various expansions
Euromoney Conference: Suez Cement factory to begin operating on coal next November: CEO
Italgen working on getting permits for second phase focusing on wind energy, CEO
Court sentences 15 Azhar students to 4 years
The Nasr City Misdemeanours Court sentenced Wednesday 11 male and 4 female Al-Azhar University students to four years in prison over violating the Protest Law, the Association for Freedom of Thought and Expression (AFTE) said in a statement. The court neither heard the witness testimonies nor allowed the defence team to make their pleas, according …
Despite difficult challenges, Egypt has a considerable economic upside
By Mohamed A. El-Erian Already struggling to meet citizens’ legitimate needs and aspirations, the Egyptian economy has suffered a series of additional setbacks in recent years. So much so that, for the first time in many years, the population has had to cope with power cuts, shortages of goods, and partial controls on foreign exchange. …
Egypt provides relief aid to Sudan flood victims
Aid affirms commitment between the two countries
Prosecution releases 116 Protest Law detainees
Fayoum Court releases 10 detainees, refers 1 to Juvenile Court
Ministry of Tourism seeking to diversify sector’s activities in near future to increase plunging tourist numbers
The Minister of Tourism talks with Al-Borsa about the current state of tourism in Egypt
More private sector influence good for economy: Al-Suwaidi
The Egyptian economy is currently facing many challenges in light of the growing budget deficit, the energy crisis, and the decline in domestic and foreign investments
No fear for role army in Egyptian economy: Hossam Farid
A lack of funding and the absence of legislation have been long-standing problems that continue to hinder the private sector
Reducing subsidy expenses essential to jumpstarting Egypt’s economy: Economists
Reducing subsidy system expenses in the 2014/2015 fiscal year (FY) budget will help drive Egypt’s economy forward, economic analysts said at the Euromoney Conference, currently being held in Cairo.. It is essential to reduce public expenses for Egypt’s economy, especially with regards to the energy situation, said Managing Director of Qalaa Holding Hisham El-Khazindar. El-Khazindar …
$6bn foreign direct investment in FY 2014/2015: Investment minister
Egypt’s total foreign direct investments for FY 2013/2014 measured $6bn, Investment Minister Ashraf Salman said on Tuesday. On the sidelines of the Euromoney conference, Salman said that Egypt is hoping to “touch the $10bn” mark during FY 2014/2015, and will reschedule debts to foreign partners operating in the petroleum sector. The move will restore their …
Government to offer bids to generate 8GW from coal and renewable energy: Salman
The government hopes to offer two tenders to generate 8GW of electricity from new and renewable energies, said Minister of Investment Ashraf Salman on Tuesday. He added that there are also plans to construct power stations operating on coal during the fiscal year (FY) 2014/2015, in order to meet the country’s growing electricity needs. A …
Egypt needs growth, jobs over economic stability: IMF chief in Egypt
Government has set concrete goals for its February economic summit, says Lazard managing director
Euromoney Conference: Siemens addresses the energy challenges of Egypt
Siemens, the global powerhouse in electronics and electrical engineering operating in the energy, infrastructure, industry and healthcare, demonstrated today the importance of dialogue between the public and private sectors in Egypt through its participation in the Euromoney Egypt financial Forum held on September 16th and 17th under the slogan: “Stability, Investment and Growth”. Siemens participation …
Euromoney Conference: New IPOs to revive stock market
Opportunities in petrochemical, real estate, and start-up companies