Latest in Tag: Investment Highlight
Latest in Tag: Investment
USD exchange rate skyrockets
Few days after president ‘s statement that the Egyptian Pound will not be devaluated, the exchange rate of the US dollar rises against the Egyptian pound to hit its highest level since 2004
Food Industries Holding Invests EGP 100m on expansions
By Mahmoud Salah El-Din Tarek Shaalan, Head of the food products companies sector at the Holding Company for Food Industries, said EGP 100 million have been allocated for investment in the year 2012-2013 to develop branches of the companies and open new ones. The development plan includes developing 45 branches of Nile, Ahram and Alexandria …
Government studies new law to regulate foreign capital
By Ibrahim El-Masry Minister of Planning and International Cooperation Ashraf Al-Arabi said the government is considering drafting a new law to regulate the flow of foreign capital to Egypt whether in investments or funding for non-governmental organisations (NGOs). Speaking during a public session of the Shura Council that tackled the issue of foreign grants and …
Central Bank to issue more bonds and treasury bills
The Ministry of Finance announced the Central Bank of Egypt is to issue treasury bills and bonds, amounting to EGP 52 billion during September, state-owned news agency MENA has reported. The government will issue 91 day, 182 day, 273 day and 364 day treasury bills, amounting to EGP three billion, EGP eight billion, EGP 15 …
Review: Moryâs visits to China and Iran overwhelm Egyptian columnists
As Morsy nearly finalises his three-day journey to China and heads towards a supposedly short, yet very unique, trip to Tehran, opinion writers in almost all Egyptian newspapers dissect the main reasons, repercussions and expected outcomes of the Presidentâs two important visits. Some writers have refuted arguments that Egypt has the potential to swiftly follow …
Myanmar reshuffle ‘aims to reinvigorate reforms’
Myanmar president seeks promoting loyal allies to support his reform agenda
Morsy secures Chinese deals
Prospects of improving Egypt’s economic situation, as Morsy visits China
Negotiations to streamline Qatari investment obstacles underway
By Ehab El-Dobaby and Mohamed Ayyad Within the coming days, a number of officials and executive directors of Qatari companies operating in Egypt will engage in negotiations with the Egyptian government. The negotiations will hopefully streamline several conflicts pertaining to the investment contracts that were signed by these companies before the 25 January revolution. During …
Facebook at half-price: which way now?
Washington (AFP) â If you bought Facebook shares in the May IPO and held onto them, by Monday morning you would have lost more than half your investment, and not see any encouraging signs of making your money back. Three months after the largest tech share issue ever on US markets, Facebook fell to a …
Morsy to visit China
Syria, Palestine and strengthening economic ties the foci of the visit
International renewable energy companies take interest in Marsa Allam
By Abdelrazik Al Shewikhy In collaboration with several Italian organisations in the field of renewable energy, the RES Group, a UK-based renewable energy company, offered to to construct 30 photovoltaic power stations for the Investors Association in Marsa Alam with investments worth âŹ70 million. The project comes in light of addressing fuel shortage currently crippling …
Sinai attacks prompt government to invest in development of peninsula
By Ibrahim El-Masry Measures will be taken within days to increase investment in the Sinai peninsula and to better connect the region with the rest of the country according to Dr Mohamed Mahsoub, Minister of State for Legal and Parliamentary Councils. He added that a Sinai development law will be discussed to nominante Arish …
Tourism Minister: expedite land allocation for recreational development
By Abdel Raziq El-Sheweikhy Minister of Tourism, Hesham Zazou, has called on the Tourism Development Authority (TDA) to expedite its procedures for allocating lands for hotel and recreational development, starting with appraising the value of the lands to be offered. Major General Tarek Saad El-Din, head of the TDA, said that the authority plans …
Minister of Manpower gives focus to Cleopatra Ceramics controversy
The newly appointed Khaled Al-Azhary is meeting with business and workers to resolve the ongoing industrial dispute
Board set to finalise virtual licensing of cellular networks
The final touches on launching the Virtual License for new cellular network providers to enter the market
Banks adopt new methods to measure customer satisfaction
he banks compete with one another to create better metrics to assess customer satisfaction in order to provide better services
BMW brings X1 to its 2013 line
Director of sales for BMW Egypt, announced its 2013 model line, which included the addition of the X1 model
Housing and Development Bank to invest EGP $900m in Helwan project
By Nasser Youssef The Housing and Development Bank (HDB) plans on building  a moderately-priced, middle-class housing project in Helwan over 27 acres recently acquired from the government. An official at the bank stated that the project comprises of 2000 residential units to be completed within the coming two to three years. The estimated cost of …
Government attracts funding originally allocated for SMEs
By Nasser Youssef The governmentâs expansion of high interest bonds and treasury bills led to a decrease in financing for small and medium sized enterprises (SMEs), the support of which the state claimed to be the primary goal of the post revolution government. The state resorted to the banking system in order to close the …
IT idea incubator targets launching 20 companies annually
By Mohamed Alaa El-Din Flat6Labs has marketed five companies from among 12 that graduated from the last two rounds of its investment programs. Investments in the five companies equalled EGP 5 million. Ramez Mohamed, CEO of Flat6Labs, said that the company hopes to develop 20 information technology (IT) companies on a yearly basis, with …
Emirati real estate investment firm considers Egyptian market re-entry
By Mohamed Darwish Amlak, a real estate investment company based in the United Arab Emirates (UAE) is in the processof studying the possibility of entering the Egyptian real estate market by developing 10 acres that it owns in Nasr City. Hatem Amer, the CEO of Amlak Egypt, said that the company is still scrutinising the …
GM Egypt investments $10 million to manufacture the Chevrolet Move in Egypt
General Motors Egypt celebrates its $10 million investment to manufacture Chevrolet Move.
Shell to invest $600m in Western Desert operations
By Ahmed Tolba Badr Petroleum Company (Bapetco), a joint venture between the Egyptian General Petroleum Company (EGPC) and petroleum giant Royal Dutch Shell, announced that the latter has decided to invest $600 million in exportation and production operations in its Western Desert concession areas. The endeavor comes in the context of Shellâs exploration plan for …
EGX trading to relax during Ramadan
Trading on the Egyptian Stock Exchange is expected to experience Ramadan lull as traders await political developments over the holy month
Real estate market in initial recovery
Successful presidential elections have reinvigorated the real estate market but it may be temporary
Libyaâs Kib sees boost in investments
Tripoli (AFP) – Prime Minister Abdelrahim al-Kib predicted a bright future for foreign investment in Libya especially in the oil sector whose infrastructure needs to be overhauled, in an interview with AFP. âThe plan is to revamp the whole thing and work on the infrastructure of the oil and gas industry… (an) area for projects …
Government to settle $318m worth of external debt
The Ministry of Finance in co-operation with the Central Bank have managed to allocate $318 million, which represents the value of public debt instalments owed by the government for bonds issued abroad in Egyptian pound  in 2007. A high-ranking source in the Ministry of Finance has affirmed the governmentâs commitment to the settlement of all instalments owed at …
Re-establishing Confidence
Richard Banks talks about business in Egypt
Plan for an âInvestors Unionâ to improve image of businessmen
Farid Khamis: Industrialists are not thieves, itâs not right to generalise accusations after the revolution
Investing in ideas
With a new idea needed by the market, a young person can found a company; then in less than a year, he can have the biggest investment funds chasing it with millions of pounds, trying to buy a stake or minority ownership.