The Ministry of Tourism's attempt to attract foreigners to visit Egypt came under fire amid a controversy surrounding the video used to encourage tourism displayed at the International Tourismus-Börse (ITB) Berlin, one of the world's largest tourism (...)
Nissan is still maintaining its regular operations in Egypt with a 24-hour production day despite the current dollar shortage facing the Egyptian market, Chairperson and Managing Director of Nissan Motor Egypt and Regional Africa North (RAF-N) Isao (...)
The value added tax (VAT) will not be applied on tuition for international schools, the Ministry of Finance said in an official statement.
Earlier this week, in an interview with privately-owned newspaper Al-Youm Al-Sabaa, chairperson of the (...)
The Central Bank of Egypt's (CBE) policies to prevent the further erosion of the country's foreign currency holdings have garnered scrutiny from investors, importers, and citizens who fear the loss of the right to withdraw their own money. Following (...)
Economic research company FocusEconomics predicted that Egypt's forecasted gross domestic product (GDP) would be stable for the fiscal year (FY) 2016.
However the company estimated that the growth of FY 2017 will be at 4.1%, which is 0.1% lower than (...)
The Egyptian Exchange's (EGX) benchmark index EGX-30 is expected to experience a new upwards trend during the coming period, to range between 6,850 points and 7,000 points, capital market analysts said.
"Last week saw a few surprises," said the head (...)
Following the finalisation of Beltone's acquisition of CI Capital, the companies will acquire an electronic brokerage company in Egypt, said business tycoon Naguib Sawiris during a conference held by the American Chamber of Commerce.
He noted that a (...)
Addressing the nation, particularly Egypt's largest income earners, in his latest speech, Egyptian president Abdel Fattah Al-Sisi encouraged citizens to donate to the Tahya Masr (Long Live Egypt) fund, saying: "If every day, 10 million from the 90 (...)
Businessman Naguib Sawiris stated Sunday that the Egyptian government must embrace new technology, lauding technology's democratising force in a country he claimed relies on bureaucracy and its attendant corruption risks. Sawiris statements came (...)
The narrow range fluctuation of the Egyptian Exchange's (EGX) benchmark index is expected to continue once again this week with the index ranging between the high 5,000s and the low 6,000s.
"The past two or three weeks witnessed no major (...)
Minister of International Cooperation Sahar Nasr signed several loan agreements with representatives of the Japanese government and President of the Japan International Cooperation Agency (JICA) Shinichi Kitaoka to facilitate initiatives in the (...)
A total 209 ships passed through the Suez Canal carrying 13.3m tonnes despite the accident that befell Panamanian ship New Katerina Thursday.
This is evidence of the importance of the Suez Canal Area Development, Head of the Suez Canal Authority (...)
The Egyptian Exchange (EGX) benchmark index EGX-30 is expected to continue to fluctuate within the same 250-point range for the third consecutive week due to a scarcity of stocks, a capital market analyst predicted.
"EGX-30 will vary between 5,850 (...)
The global economy is at the end of an economic road and is approaching a T-junction, chief economic advisor at Allianz Mohamed El-Erian said Wednesday during a press conference by the US Chamber of Commerce.
The conference addressed how countries (...)
The Suez Canal Economic Zone (SCZone) opened negotiations with engineering and consulting firms to develop the infrastructural work in order to have a "smart industrial logistic zone", Chairman of SCZone Ahmed Darwish said.
SCZone has a flexible (...)
The jump in the value of the US dollar against the Egyptian pound following the decision to raise the cap on dollar deposits for importers came as no surprise for investment bank analysts who predict further devaluation for the local currency.
The (...)
Egyptian Sugar and Integrated Industries Company's (ESIIC) revenues totalled at EGP 5.8bn in 2015, company Chairman Mohamed Abd Al-Rahman announced Monday and the company has successfully sold the entirety of its sugar stock.
ESIIC met all demands (...)
The downwards trend in the Egyptian Exchange (EGX) benchmark index EGX-30 is expected to continue unless the market sees some "good news", technical analysts told Daily News Egypt.
Mohamed Al-Assar, head of the technical analysis department at the (...)
The Egyptian Exchange (EGX) has been suffering significant drops since the beginning of 2016. During the first month, the benchmark index EGX-30 declined 14.46% from 7,006 points to 5,992.7 points. The market capital also declined by 9% over January (...)
The strategic supply of wheat will be sufficient in meeting local demands until mid-May, Minister of Supply Khaled Hanafy said Tuesday.
The General Authority for Supply Commodities (GASC) offered an international tender to purchase wheat. GASC (...)
The Ministry of Supply plans to offer the state-owned Food Industries Holding Company (FIHC) on the Egyptian Exchange (EGX) in 2016.
The financial studies the ministry is conducting to prepare FIHC for an initial public offering (IPO) are expected (...)
Exchange traded funds (ETFs) are as successful as Egyptian Exchange benchmark index EGX-30 is, investment manager at Beltone Financial Alyaa Gomaa said.
Beltone Financial was the first company to be granted the ETFs trading license in Egypt. The (...)
There was a high demand on the Egyptian Exchange (EGX) in the past two years as a source of finance, leading many companies to go public by listing their companies and then offering shares by holding an Initial Public Offering (IPO).
Other private (...)
Egyptian Exchange's (EGC) benchmark index EGX-30 is expected to continue increasing in the upcoming week, head of the technical analysis department at the National Bank of Kuwait (NBK) for investment in North Africa and the Middle East Mohamed (...)
Several agreements were signed between Egypt and Russia on the construction of a joint industrial zone in Suez, Minister of Industry and Trade Tarek Qabil announced following the signing of the agreement.
The signing took place between Qabil and his (...)