The Suez Canal Authority (SCA) is in the process of acquiring South Red Sea Shipyard company, which specialises in building super yachts, sources close to the deal told Daily News Egypt.
The sources added that the SCA has already completed the (...)
Sharm El-Sheikh –Hala El-Said, Minister of Planning and Economic Development, said that the cost of damage caused by climate change annually in Africa will rise to $415bn annually by 2030.
She pointed out that the losses currently amount to about (...)
Egypt is expected to announce a new loan agreement with the International Monetary Fund (IMF) on Thursday, sources close to the matter told Daily News Egypt.
The sources did not disclose the exact loan amount, but it is expected to fall between (...)
Egypt is preparing to receive new Qatari investments in the next few days.
Daily News Egypt has learned that Sheikh Tamim bin Hamad will visit Egypt in the upcoming weeks, when several agreements for Qatari investments worth $20bn will be (...)
Foreign direct investment (FDI) is a leading contributor to real economic growth, which prompts the Egyptian economy to attract long-term investors, says Managing Director of Al Ahly Capital Holding Karim Saada.
Al Ahly Capital's investment (...)
Egyptian Exchange (EGX) indexes rose collectively at the end of last week, with market dealers expecting the EGX to continue its upward to test 15,000 points in the short term, after Saudi Telecom Company (STC) offered to buy a majority stake of (...)
Pioneers Securities rose 8 positions to the top spot among brokerage firms in January, during January, with a trading value that amounted to EGP 3.6bn, individually accounting for 11.7% of the total volume of market transactions during the (...)
Mohamed Omran, head of the Financial Regulatory Authority (FRA), reviewed the most important events that happened to the authority throughout the last year, including the approval of the consumer finance draft law and sending it to the parliament (...)
The Egyptian Exchange (EGX) saw ups and downs last week, where separate movements of some stocks made the difference. The Commercial International Bank (CIB) played the main role recently, in the absence of regular incentives, in pushing the EGX (...)
Arab Moltaqa Investments Company (AMIC) aims to double its investment portfolio over the next two years by entering new sectors, such as education, real estate, and logistics, which have strong investment opportunities.
Managing Director of AMIC (...)
The Egyptian Exchange (EGX) witnessed an increase last week with the support of the banking sector led by the Commercial International Bank (CIB), which accounted for about a third of the market's trading during the week. Traders expected the market (...)
The Egyptian Exchange (EGX) witnessed some losses at the beginning of last week, affected by geopolitical tensions in the region. However, the market limited its losses by the weekend session. Traders expected the market to see more upside in the (...)
Sideways trend dominated the last week's trading sessions in the Egyptian Exchange (EGX), and traders expected this trend to continue this week amid positive expectations for the EGX in 2020.
This positive outlook is supported by the easing monetary (...)
The Egyptian Exchange (EGX) witnessed a rise over the past week sessions, and traders are expecting a strong rebound in the medium term after the Christmas holidays, to test the level of 14,500 points.
The benchmark index EGX30 saw a rise of 0.35% (...)
The value of islamic deposits has reached 233 billion Egyptian pounds($13 billion)by the end of June 2018, capturing 6.5 of the market share, said head of the Egyptian Islamic Finance Association Mohamed El-Beltagy.
The Islamic deposits has (...)
Export Development Bank of Egypt is seeking to increase its retail portfolio to one billion Egyptian pounds ($55.8 million) by the end of fiscal year 2018/2019, according to its Chairman Mervat Sultan.
Sultan told Amwal Al Al Ghad that the retail (...)
Egypt aims at raising the economic growth rates to reach 7-8 percent by 2022, Planning Minister Hala el-Saeed said Wednesday.
She added that the axes of the economic reform program include institutional reforms which resulted in the issuance of a (...)
Google revealed its annual Year in Search report for 2017, highlighting the terms Egyptians searched for most over the year.
Google Head of Public Relations & Communications for the Middle East and North Africa Joyce Baz said that over 1 billion (...)
Foreign investments in Egypt's governmental treasury bonds and bills have risen to $4 billion after the country floated its currency on Nov. 3rd, said Deputy finance minister Ahmed Kouchouk on Tuesday.
Before pound floatation, foreign investments in (...)
The Egyptian parliament is expected to approved the long-awaited new investment law between one week and ten days, said head of the economic committee Aly El-Gohary said Tuesday.
The new law will focus on the diversification of incentives and (...)
AlexBank, a member of Italian bank Intesa Sanpaolo, says small and medium-sized financing portfolio had recorded 3 billion Egyptian pounds ($166.1 million) by the end of 2016.
Dante Campioni, AlexBank's managing director, further said in a press (...)
Wael El-Fakharany, managing director of online cab-booking application Careem Egypt, said that his company currently has 50,000 drivers in more than six cities.
He added that Careem had increased its capital by the end of December to reach $350m, (...)
The executive director of the third round of the Egypt Automotive Summit, Mohamed Aboul-Fotouh, announced several topics which participants will be discussing. Topics on the agenda at the summit include facilitating the export of spare parts, (...)
Egyptian investment bank FEP Capital expects to complete initial share offering of business tycoon Ahmed Abou Hashima's Egyptian Media Company in 2018, FEP chief executive Omar El Maghawry said Tuesday.
FEP Capital, part of regional First Equity (...)
Egypt plans to launch international bonds ranging between $2 billion and $2.5 billion within the first half of next January, the country's finance minister said Monday.
"The launch was supposed to be within this November, but the U.S. elections and (...)