Latest in Tag: subsidies Highlight
Latest in Tag: subsidies
Governor reshuffle to take place in January: Al-Sisi
President also discussed latest economy and security developments with editors of state-owned newspapers
Decline of international oil prices to decrease Egyptâs subsidy bill by EGP 25bn: Dcode study
Negative implications of BOP would lead CBE to adopt more flexible stance toward EGP/USD rate
Subsidised fertiliser crisis result of production issues and poor distribution
Companies in free investment zones must export all products, no need to consider subsidised fertiliser shortages domestically
Growth rate rises with 6.8% in first quarter alongside IMF visit
El-Araby expects positive IMF report mid-January following recent package of economic reforms
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
Egypt waiting for âappropriate momentâ to issue dollar bonds: Finance minister
Too early to define the yearly percentage that will be removed from energy subsidies, Dimian says
Removal of electricity subsidies to happen over five years: Electricity minister
Government to introduce feed-in tariff for new and renewable energy âwithin weeksâ, planning minister said Monday
Supply service call centre to be inaugurated Thursday: MCIT
Hotline to be established to receive complains from citizens and keep them informed of their ration supplies, said MCIT
Egypt has potential to grow, but sustainability depends on government: World Bank
Pace of growth in seven Middle Eastern countries remains âfar belowâ the rates expected in the 2000s, the World Bank indicates
US confirms support for Egyptâs economic reform programme
Government seeks to restore the confidence of international markets in Egyptian economy and gain support for economic reform programme
Ration card commodities prices increased for quality improvement: Ministry of Supply spokesman
New ration card system provides citizens 20 privately and government-produced products including meat and chicken items, ministry says
IMF suggests cash transfers to improve subsidies targeting
Egypt needs adequate mitigation measures, gradual price increases, and better public communication
World Bank negotiating $500m loan for gas delivery to homes
Correction: Daily News Egypt is republishing this article because the World Bank was incorrectly said to have already approved the loan in the original article
Government to bolster transport system with EGP 1.4bn
Ministers agree on package to develop and reform transport system in wake of subsidies cut
Military looks to âease burdenâ of rising prices
Armed forces to provide food at discounted prices and bolster transportation system
Government needs more inclusive, transparent strategy towards subsidy cuts: Al Nour Party
Misr Al Qawia criticises decision, Al-Nour Party calls for transparency and improved methodology, while Socialist Popular Alliance proposes alternate
EGP 400m subsidy allotted for industrial area infrastructure in FY 2014/2015 budget: IDA chairman
Chairman of the Industrial Development Authority hoped more funds would have been available for the completion of industrial areas
Violence in Iraq costs Egypt EGP 10bn
EGP 10bn increase in fuel subsidies for 2014/2015 budget a result of violence in Iraq: Petroleum ministry official
Al-Sisi refuses to approve current draft for state budget, citing debt
President says that assistance from Gulf States was the reason Egypt survived the past 10 months
Real estate facing price jumps on rising building materials costs: Arabia Group chairman
Real estate experts expect price jumps in properties, as government price rises for petroleum push up the cost of building materials
Tourism industry to remain unaffected by subsidy cuts: Experts
The number of tourists in 2013 was 10.6 million, a reduction of 16.7% on 2012. The total number of nights spent by tourists also declined to a drop of 27.9% from the same period during 2013.
Factories demand government provide energy before discussing price increases
An official source at a cement company who preferred to remain anonymous said that he was âsurprisedâ at the governmentâs desire to raise gas prices for factories at a time when a gas shortage impacts their productive capacity.
Al-Sisi urges Egyptians to cycle
President suggests cycling as a cost-effective means of transportation
Timing âinappropriateâ for subsidies removal: Hotels chamber
Removing diesel subsidies from November onward would pose extra burden on already suffering tourism sector, says deputy chairman of Chambers of Hotels
EGAS to cut 380m cubic feet of gas per day from fertiliser and cement factories
Daily production decline of 150m cubic feet of gas in Egypt, shortage of 11m metres of gas and equivalent for fuel needed for electricity
Reforms will help curb budget deficit: Mehleb
Outgoing Prime Minister Ibrahim Mehleb said the government has presented a âboldâ budget for the coming fiscal year which will overhaul the energy subsidy system
Decision on stock market tax is âfinal and irreversibleâ: Finance minister
Dimian estimates that proceeds to the treasury from the new tax will range from EGP 5 – EGP 6bn, but this will be linked to market performance.
EIPR sues government for subsidising fuel to factories
Subsidies to factories do not benefit the state or its citizens: EIPR
Ministry of Tourism, E-Finance to provide diesel fuel smartcards for hotels, transportation companies
The tourism sector receives diesel fuel at EGP 1.10 per liter, and this price will rise to EGP 5.35 once subsides are removed, according to the official.
First stimulus packageâs projects to be completed by end of 2014: El-Araby
Around 60% of the stimulus package projects are done, says planning minister