Latest in Tag: The daily News Egypt Highlight
Latest in Tag: The daily News Egypt
Rate of Egyptians leaving country increases 17% in 2014
“I left Egypt because I realised that I couldn’t find a decent job in my field, without having connections,” says one immigrant
Jewellery stamping authority gain EGP 27m in revenues: Supply Ministry
Transfer of authority to a public economic entity has yet to be made, although it was announced by Minister of Supply last December
Upper Egypt Economic Summit under discussion
Number of investment opportunities in Upper Egypt will be presented at the summit, which will tackle one of the poorest zones in the country
Emaar Misr Board approve capital rise by EGP 600m
Firm’s current issued capital evaluated at EGP 4.019bn, set to reach EGP 4.619bn with increase
Raya board approves offering 35m shares on EGX
30m shares of company capital to be offered in private placement for financially solvent investors
Egyptian Ambassador to China to attend AIIB agreement signing: Al-Ahwani
Egypt was confirmed to join the China-backed bank in April and became one of the 57 founding members
Ministry of Housing denies termination of Cairo Capital MoU
Contradictory reports have surrounded project since its announcement
Bisco Misr approves optional delisting from EGX
Approval comes after New York stock market-listed firm Kellogg recently acquired 85.93% stakes in Bisco Misr
Petroleum, supply ministries cooperate to transform cooking oil into biodiesel
The programme will be applied in all governorates in Egypt, whereby ACPA will be responsible for the transformation process
Freezing capital gains tax law will slow budget deficit reduction: Former minister
Decision will likely lead to matching Fitch’s assumptions on the deficit of reaching 11.1% of GDP by end of this FY instead of the 10.8% targeted by government
10.9% increase in trade balance deficit in March: CAPMAS
Egypt recorded trade balance deficit of EGP 26.7bn in March 2015
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.
70% of Egyptian biodynamic products are exported: EBDA Manager
Total space of land cultivated through biodynamic methods in Egypt is 7,000 feddans
More social housing units for youth in 6th of October City
Officials from the 6th of October City council have been assigned to map empty land spaces in the city and choose suitable locations for new constructions
E-Finance offers e-collection service for Zakat
The new service’s main aim is to establish the principle of solidarity between community members and ease the procedures needed for paying Zakat and charity.
Egypt, EU twinning agreement to reach full potential in 24 months
EgyptAir still studying financing air fleet increase from 81 to 125 aircrafts
Egyptian exports to Nile Basin countries register 8% increase YoY
Imports from Nile Basin decrease 71.7% in February 2015, compared to same period last year
Egypt, Switzerland trade volume CHF 1bn in 2014: Swiss Ambassador
We have invested some CHF 25m that covers our framework agreement with Egyptian government, says Leitner
Solar Impulse II introduced in Cairo
The aeroplane is entirely powered by solar energy, and has started its first-ever 35,000 km journey around the world in March
External debt declines to $39.9bn in March: CBE
March’s figures compare to June 2014, where debt amounted to $46.1bn
Bank Audi earnings rise 63.2% in Q1 2015: Deputy Chairman
Bank provided loan worth $90m to EEHC for emergency plan to solve electricity crisis in summer of 2015
AfDB loans worth $140m finalised for Sharm El-Sheikh airport extension
A grant amounting to $1.7m also provided for the development of the airport’s second phase
MNHD Board approves Al-Hokair Group’s mega mall construction offer
Investments worth EGP 700m are expected to be injected for the development of the mall, says MNHD’s Investor Relations Manager
Raya Holding to discuss raising capital by EGP84.1m
Company aims to increase capital from EGP 420.5 to EGP 504.6
Palm Hills signs bridge loan agreement worth EGP100m
The loan will be used for financing a project in the North Coast and has been signed with Banque Misr and AAIB
Egypt, Jordan 2014 trade exchange valued at $732m: International Cooperation Minister
Jordanian contributions in Egyptian investment companies spread over more than 1,430 companies, valued at $501.7m
Franchise Exhibition kicks off Wednesday
EGP 60bn total investments in franchise industry in past few years
UNDP, USAID provide EGP 13.8m for WWII landmines clearance programme
“Britain did not meet our expectations in its intervention to remove landmines,” says Demining & Development programme Director
Global Islamic Funds expected to grow to $77bn by 2019
84% of total Islamic AUM held in eight countries, Saudi Arabia and Malaysia account for 69% of total AUM, says a Thomson Reuters report
Franchising opens doors for exportation to local suppliers
55 international and local brands, 11 countries will be involved in EFDA’s International Franchise Exhibition in Cairo this May