Latest in Tag: The daily News Egypt Highlight
Latest in Tag: The daily News Egypt
Standard & Poor’s positive outlook on Egypt reflects well on investment: Economist
Agency raised Egypt’s economic outlook from stable to positive, affirming long- and short-term foreign and local currency sovereign credit ratings at ‘B-/B’
New Capital agreement needs more time: Expert
Even three months is not enough to finalise new administrative capital agreement, says academic
Amer Group net profits jump to EGP 16m in Q1 2015
82% of group’s revenues were from real estate sector
Banque Misr approves EGP400m for SMEs
The official further noted that the bank is currently studying funding a further 15 clients in the SME sector with EGP 100m.
CBE decreases issuance of weekly FX auctions
The step was taken to increase the supply of the US dollar in the Egyptian market, and fight the black or parallel market.
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
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
Investment opportunities to be presented at Dubai’s AHIC: EGOTH Chairman
EGOTH recorded profits worth EGP 111m between July 2014 and March 2015, says Samir Hassan
Planning Ministry launches ‘Inspire Fund’ with EGP 250m seed money: Minister
It is important to propose flexible legislation to implement effective CSR activities in society, protect all parties and allow space for creativity, says Minister of Social Solidarity
SODIC impacts over 12,000 lives in past 2 years through CSR: Nadine Okasha
When it comes to our education programmes, we need a lot of government support, says Senior PR Manager
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
Mobinil net losses shrink to EGP 35m
The company registered net losses of EGP 177m in the first three months of 2014
Egypt, Indonesia trade exchange increases by 21%
Meanwhile Egypt’s imports from Indonesia include chemicals and fertilisers, readymade clothes, weaving and textiles, furniture, leather products and others.
EFG Hermes increases capital by EGP 391.83m
Increasing authorised capital from EGP 3.2bn to EGP 6bn has also been approved by EGX
Tourism ministry targets 20 million tourists, $26bn income in 2020
Tourism Ministry aims to attract visitors with higher spending powers, increase touristic sales over the Internet
Businessmen, officials dispute steel protection fees
Local producers will raise prices as steel demand will increase, extra imposed fees will harm low income people, says construction official
300,000 tonnes of wheat to arrive in June
Expected amount includes 180,000 tonnes of Russian wheat, 60,000 Romanian and 60,000 tonnes of French wheat at approximately $221 per tonne
Egypt, CMI sign MoU
Signingis Egypt’s third extension of agreement, prolonging cooperation period from 2015 to 2018
$400m World Bank loan to be repaid over 35 years
The grant component of the loan is valued at 69.47%
Egypt receives $27m OPEC loan
Loan to be used in establishing, equipping modern integrated centres for tumours and neurosurgery at Ain Shams Specialized Hospital
Egypt’s AIIB membership approved
Final decision for approving Egypt’s membership was in hands of bank’s approved members
Local producers to supply 3.7m tonnes of wheat over coming 3 months
EGP 10bn allocated for paying local suppliers
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
Kuwaiti Fund loans Egypt $1.5bn
With latest aid, KFAED’s financial support to Egypt totals 40 loans
New deliveries from 1m residential units’ project next week
Applicants benefiting from project have been raised to up to 50 years of age instead of 45
Egypt ranks 3rd in World’s Richest Arabs list: Forbes Middle East
Egypt contributes five names to top 20 Richest Arabs list
PPP mechanisms main focus of Government & Developer Summit
The summit, entitled “The new Egyptian experience for reconstruction”, is set to raise the issue of the private sector participating in government mega projects