Nevine Loutfy is managing director and CEO of the National Bank for Development. After an international career spanning over three decades with global behemoth Citibank, the fearless banker left Citigroup's EMEA Commercial Bank in London where she (...)
Egypt will approve imported wheat shipments that have passed quality tests in the country of origin, Egyptian Minister of Supply Khaled Hanafy said on Sunday in an attempt to reassure the country's suppliers.
"From now on, any shipment which is (...)
Central Bank of Egypt (CBE) Governor Hisham Ramez appointed deputy gover Gamal Negm to serve as caretaker governor until the end of his term, an official CBE spokesperson told Ahram Online on Wednesday.
"Governor Hisham Ramez has handed over his (...)
Egypt will open an expansion to the Suez Canal on Thursday, marking an important step in President Abdel Fattah El Sisi's plans to restore confidence in the country's economy but he is likely to face some stiff challenges to fully execute his (...)
Egypt will receive the pledged deposits from the Gulf in the coming two weeks, the minister of investment, Ashraf Salman, announced on Monday.
Gulf countries have pledged at least $3 billion in deposits to Egypt's central bank as part of a total of (...)
Egypt will list four public sector companies in the coming months, starting with two state-owned petroleum companies, Investment Minister Ashraf Salman announced on Monday.
The details of the Initial Public Offering will be announced shortly, the (...)
Egypt's government is set to discuss establishing an independent entity for the transmission of electricity in a move that would allow private sector participation in the market, so that businesses can sell electricity directly to the consumer at (...)
Egypt plans to finalise 20 oil and gas exploration concessions and modifications by the end of the year as part of its plan to reform the petroleum sector and solve its energy crisis, the minister of petroleum, Sherif Ismail, said in a panel (...)
Egypt's main index rallied on Tuesday, gaining 1.11 percent to end the session at 8,745 points, bolstered by a rebound of global stocks.
European shares rose on Tuesday, as blue chips such as Novartis and UBS posted better than expected results, (...)
Egypt's annual headline inflation rate fell to 11.1 percent in September, from 11.4 percent the previous month, state statistical body CAPMAS announced on Thursday.
Early in September, Egypt's central bank had decided to keep the overnight deposit (...)
The Suez Canal corridor project planned by a consortium led by Dar Al-Handasah will cost $220 billion in three years, said Ashraf Salman, Egypt's investment minister, at the Euromoney conference in Cairo on Tuesday.
The plan is to establish (...)
Egypt's private sector will present projects at an economic summit in February in the hopes of attracting international partners, said Ashraf Salman, minister of investments, at the Euromoney conference in Cairo on Tuesday.
In addition to finding (...)
Egypt's budget deficit could reach 11 percent of GDP by the end of the current financial year, Finance Minister Hany Kadry Demian told the Euromoney conference in Cairo on Tuesday.
The budget forecasted for the financial year 2014/15 has expenses (...)
Egypt's investment minister, Ashraf Salman, told the Euromoney Egypt conference on Tuesday that the two Suez Canal megaprojects are important drivers for the country's economic growth.
The Suez Canal corridor project will attract $220 billion worth (...)
Egypt needs to revise its bilateral trade agreements and contracts with foreign extraction firms in order to restore policy freedom and maximise state revenue, experts said at the launch of the 2014 Trade and Development Report of the United Nations (...)
This year's World Economic Forum report on global competitiveness places Egypt one rank down at 119th out of 144 countries, though the drop is less steep than in recent years as reform efforts continue
Egypt dropped one spot to rank 119th among 144 (...)
Egypt has revised its July headline Consumer Price Inflation (CPI) to register a monthly increase of 3.6 percent, instead of the previously announced figure of 3.1 percent, the Central Bank of state-run statistics body CAPMAS said on Sunday.
The (...)
Amid fears of the consequences of the steepest comprehensive fuel price hikes in decades, a number of economists and analysts have welcomed both the timing and the magnitude of reforms to Egypt's bloated fuel subsidy program.
On Friday at midnight, (...)
Egypt's largest listed investment bank EFG-Hermes appears to be on the defensive following media reports of a possible future merger between it and its competitor Beltone Financial Holding and seems to challenge a tender offer on 20 percent of its (...)
An Egyptian court ruled on Sunday to fine the Egyptian Company for Mobile Services (Mobinil) for lack of cooperation with Egypt's antitrust watchdog, the Egyptian Competition Authority (ECA).
The decision upholds a previous ruling issued last May, (...)
Egypt's budget deficit is forecasted to reach 12 percent of GDP, or LE288 billion, in the 2014/2015 fiscal year state budget, according to statements made by the country's finance minister on Monday.
The draft budget, which was passed for final (...)
Egypt has revised its annual budget for the upcoming fiscal year to limit the budget deficit to 13.9 percent of Gross Domestic Product (GDP), if none of the current government's planned economic reforms are implemented in time, an official (...)
Egypt's government is expecting more wheat than ever before from local farmers this year, thanks to the introduction of a new nationwide system of contractual farming, officials from the agriculture ministry told Ahram Online.
The world's largest (...)
Egypt's new interim government is setting its economic bar lower than its predecessor, according to figures made public by newly appointed finance minister Hany Kadry Dimian on Wednesday.
The economy is now set to grow at a rate of 2 to 2.5 percent (...)
Individual taxpayers earning more than LE1 million per year may be subjected to a 5 percent tax hike over a three year period, while public business sector workers to be covered by minimum wage
Egypt's government is currently studying the (...)