Latest in Tag: Economy Highlight
Latest in Tag: Economy
Germany’s Vice-Chancellor to attend Suez Canal Project’s inauguration: Haber
“We don’t have the comprehensive details of the Suez Canal Axis development projects,” says German Ambassador to Egypt
Pacific Rim trade ministers fail to clinch TTP deal
Delegates from a dozen Pacific Rim nations have failed to reach a deal on a new trade agreement. But negotiators said “significant progress” had been made, and that a final pact was within reach. Negotiators on the so-called “Trans-Pacific Partnership” (TPP) fell short of concluding a final deal after several days of talks in Hawaii …
Strongest El Nino in a decade also wreaks havoc on wildlife and ecosystems
The current El Nino is the strongest in more than 10 years. Its having a devastating impact on everything from the Indonesian economy to the marine birds of the Galapagos. El Nino is famous for wreaking havoc on weather systems. But this time around, it’s coming with extra muscle, causing crises from California to Peru …
UK economy bounces back
Britain's economic growth picked up in the second quarter of the year, driven by robust service sector activity and industrial output. The strong expansion rate raises the odds of an interest rate hike this year. The UK's economy expanded by 0.7 percent between April and June after slowing to 0.3 percent in the prior quarter, the country's Office for National…
Lufthansa: New airfares can be booked
From now on, travelers can book their economy tickets according to a new price concept at Lufthansa. It is the airline's reaction to growing competition. Flights will be cheaper for passengers with hand luggage only. The airline Lufthansa is reorganizing its previous pricing system. It is adjusting the prices of its tickets in reaction to the growing competition from low-cost…
Report: Lufthansa planning ‘budget’ pricing system
Lufthansa is planning a new pricing system to meet challenges from low-budget competitors, a German paper has reported. Meager earnings have spurred the shakeup at Germany's classic airline. Lufthansa's ticket chief Jens Bischof was quoted in the "Süddeutsche Zeitung" newspaper saying that passengers would only pay for what they used, unlike the all-round service that the airline has offered since…
Will the new Investment Law launch Egypt’s investment recovery?
Egypt has recently enacted a new law on investment that amends the Egyptian investment law, with high hopes that such a new law increases the chances in restoring confidence in Egypt’s investment climate. An objective evaluation of the new law requires a neutral analysis of its strengths and weaknesses, taking into consideration the existing impediments …
Egypt targets EGP 37.8bn in infrastructure investments
State budget will provide EGP 25.5bn in funds for public investments
Update: Egyptian cabinet approves budget draft for FY 2015/2016
Government targets 9.9% budget deficit, 23% increase in revenues and a 5% GDP growth
Egyptian cabinet approves budget draft for FY 2015/2016
Government targets 9.9% budget deficit and expect a 23% increase in revenues
Egypt aims to be in top 30 global economies by 2030: Planning Minister
Executive regulation of Civil Service Law will be issued on 1 July
UK-sponsored Nomou Initiative to promote SME sector
Nomou, funded by the UK government, Shell Foundation and GroFin, provides technical and business support to entrepreneurs
Presidential decrees see economic landscape’s alteration
Some controversial decisions are still awaiting final cabinet approval to be sent to presidency for ratification
Public debt increases to 93.8% of GDP, poses risk to economy: Economists
High rate of public debt makes banks unable to fund budget deficit, which increases government’s will to fund deficit from abroad
Morsi and Al-Sisi’s first year in office
First year reviews of each president take different perspectives and put the spotlight on different fields
Diminishing conventional energy sources versus economy growth
By the rate of consumption of crude oil which is around 4.5bn tons per year from 2010, and which is growing every year, oil is expected to be depleted by the year 2050.
Egypt’s foreign reserves post largest rise since December 2011
International foreign reserves jumped to $20.5bn at the end of April 2015, compared to $15.29bn in previous month
Is Africa tiptoeing back onto the map?
Diplomats continuously emphasise the “depth of historical relations”, including President Abdel Fattah Al-Sisi during his speech in front of the Ethiopian parliament in March.
Egypt returning to central role in world: Mehleb
Prime Minister Mehleb puts emphasis on economic cooperation, Al-Sisi focuses on combating terrorism
Egypt’s economic growth in 2H of 2014/2015 to be between 4.2%-4.5%: Salman
Investment Minister Ashraf Salman reveals government forecasts to state-run MENA
Turkey condemns Sinai bombings, despite strained relations with Egypt
Turkey and Egypt have been locked in dispute since ouster of President Mohamed Morsi, ending economic ties between two countries
45% decrease in non-tax revenues during 8 months
Total income tax revenues decreased to 28% during the period from July to February in the current FY
IMF ready to support Egypt: Lagarde
Lagarde says Economic Summit succeeded in attracting agreements and contributions
Summit’s 3rd day shows rise in renewable energy sector MoUs
Several Memorandum of Understandings (MoUs) were signed between international companies and the Ministry of Electricity regarding solar energy projects. MoUs were signed between Tharwa Investments and Electricity Holding Company to establish a coal-fired power plant with 6,000MW at a total value of $9.6bn. “We met 10 days ago, and now we are signing a MoU,” …
Summit investments and agreements total $38.2bn: Salman
MoUs total $92bn, minister says
Egypt unveils key projects, lures foreign investments
The project will cost $45bn, and will take between five to seven years to complete, Ministry of Housing Mostafa Madbouly said
Summit’s second day kicks off
New investments, Memorandum of Understandings and partnership agreements signed
Egypt hopes to lure billions of dollars in investments during Economic Summit: Fitch
In response to Daily News Egypt’s questions, Gamble said the Gulf state’s support to Egypt’s economy will be in the form of FDI, rather than direct payments.
Egypt Economy: Finally on the right track?
Exactly one year ago, in an article titled: “So how is the Economy”, we spoke about the reality, mistakes and solutions for the Egyptian economy. Now, as the as final preparations are underway for Egypt’s Economic Development Conference which is set to take place in Sharm El-Sheikh, the same question comes back to mind: Are …
US confirms Kerry’s Economic Summit participation
US Secretary of State will attend Economic Summit and meet with President Abdel Fattah Al-Sisi