Latest in Tag: EEDC Highlight
Latest in Tag: EEDC
The New Administrative Capital: from far-fetched idea to reality
Since the Egyptian government announced in the Egypt Economic Development Conference (EEDC) its intention to launch a new capital city (called: New Administrative Capital) in Sharm El-Sheikh on 13 March 2015, the has been a public outcry that accused the government of launching a media crackdown and building imaginary success based on a far-fetched idea …
1 year after EEDC: What has been achieved?
Questions have been raised over the purported success of the conference, as following up on investment pledges haven’t been announced periodically
$32bn of EEDC agreements contracted
$28bn worth of MoUs are yet to be converted into contracts
BP broadens stake in Egypt’s West Nile Delta project
Company acquired 22.75% in the North Alexandria concession as well as 2.75% in West Mediterranean Concession
Siemens, Elsewedy Electric sign €2bn power plant agreement
Project is expected to begin operations by end of 2016 and to reach full capacity by mid-2018
Saleh Kamel to invest up to EGP 30bn in Suez Canal Axis
Josoor Company will start investment after issuing Economic Zones of a Special Nature Law
Palm Hills still negotiating on 500 acre New Cairo project
MOU for project was signed during Economic Summit in March
SEBA demands the activation of Saudi MoUs signed in Economic Summit
13 Saudi companies signed protocols for the cultivation and reclamation of 300,000 acres at the EEDC, says Darwish
Crédit Agricole generates net profits worth EGP 482.99m in H1 of 2015
Bank’s net profits jump 55.7% in H1 compared to same period in preceding year
OTMT records EGP 373.8m net profits, 15% YoY surge
Company’s standalone net profits register EGP 221.5m
Ministry of Housing denies termination of Cairo Capital MoU
Contradictory reports have surrounded project since its announcement
EGX-listed companies, high capital long-term projects most appealing to foreign investors: OBG official
Economic Summit’s success was in impression and image it conveyed, Tashima said
Fitch confirms Egypt’s “B” rating, outlook is stable
Budget deficit expected to decrease to 11.6% of GDP in FY15, in comparison to the 17.5% of GDP recorded in FY14, Fitch noted
Al-Sisi and his government’s resume highlights
The new canal will be established to increase the Suez Canal’s capacity to 97 passing ships per day, up from the current rate of 49 per day.
Raya Holding to discuss raising capital by EGP84.1m
Company aims to increase capital from EGP 420.5 to EGP 504.6
NBAD to hold ‘Egypt on the Rise’ conference
The conference aims to discuss steps needed to encourage foreign direct investments in the country
Crédit Agricole generates EGP 236.2m in Q1 2015
Figures show that there is a 60% increase in the bank’s earnings in Q1 of 2015, compared to the same period in 2014
Tourism investors face obstacles in Egypt
Banks prefer to loan government over investors, says Egyptian Tourism Federation Chairman
Egypt, Canada trade volume was $1.1bn in 2014: Canadian Chamber Chairman
Numbers show that the balance of trade between both countries in 2014 was in favour of Egypt, whereby 80% of Egypt’s exports to Canada were gold
Fairmont hotels, City Stars sign agreements worth $2bn: Canadian ambassador
Approximately 30 Canadian companies are currently operating in Egypt
World Bank provides $400m towards supporting 1.5 million Egyptian families
Families to receive support will be chosen carefully to ensure resources are sent to the poorest sectors and those desperately in need
Arab Fund loans Egypt $216m for power station
Egyptian minister of international cooperation held meetings in Kuwait, in framework of the annual meetings held by Arab financial institutions
Finalising procedures of $3bn loan in June: EGPC Chairman
Work is being finalised on the procedures of obtaining a $3bn loan from the Islamic Development Bank (IDB), allocated to the Egyptian General Petroleum Corporation (EGPC). The procedures for the loan are set to be completed by June, said Chairman of EGPC, Tarek El-Mulla, adding that the IDB loan will be issued due to a …
Egypt’s new city: More questions than answers
The multi-billion dollar new administrative hub started a debate among urban planners on the real price and revenue Egyptians are to make
Laws regulating real estate sector need more clarity: Capstone’s Sherif Raafat
Ex-chief of bourse heads real estate funds worth $250m
Al-Sisi’s Germany visit unconditional: German ambassador to Egypt
Haber discusses relations with Turkey, terrorism, arms deals with Egypt and results of Economic Summit
Siemens pledges $1.4m on summit’s final day
Several other agreements worth €4bn signed between Siemens and Egyptian government on second day of summit
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,” …
Housing ministry signs 4 real estate, tourist projects worth $12.7bn
Egyptian Minister of Housing Mostafa Madbouly announced Sunday the signing of memoranda of understanding for four real estate and tourist projects with $12.7bn total, at the Economic Summit. Madbouly said that the ministry signed a memorandum of understanding (MoU) with Egyptian Mountain View and Saudi Sisban Holdings, to launch two real estate projects. The first …
Summit investments and agreements total $38.2bn: Salman
MoUs total $92bn, minister says