Mohamed Shaker, Egypt's Minister of Electricity, said Egypt possesses promising power capabilities in the field of electricity transmission, in light of the development of electricity production plants over the past five years, which helped achieve (...)
The Egyptian private aviation sector risks losing its companies, unless the state intervenes to support it through unconventional solutions, said pilot Hassan Aziz, former president of the Private Aviation Association (under establishment).
Aziz (...)
The current period will be a fierce test for Egypt's tourism sector due to the suspension of all its activities during the coronavirus (COVID-19) pandemic, tourism development companies have said. The tough times have been further compounded by the (...)
The under-establishment Egyptian Federation for Private Aviation plans to submit a memorandum to the Ministry of Civil Aviation to receive support and assistance after the interruption of about 90% of flights due to the Coronavirus spread.
Ashraf (...)
L'Oréal Egypt gives great attention to entrepreneurship programmes in Egypt, offering support whether in technical, training, marketing, or financial terms, said the company's Corporate Communication Manager Nahla Mokhtar.
She told Daily News Egypt (...)
Daily News Egypt received a copy of the most important amendments that took place on a draft law for micro, small, and medium-projects, which was discussed in the projects' committee in the parliament, according to senior sources.
The sources said (...)
Members of the Industry and Energy Committee of the House of Representatives have called on the government to link the prices of gas pumped to the industrial sector with international gas prices, in order to motivate them to produce and enable them (...)
Travco Group will increase the prices of hotel rooms occupancy by 15% this year, as inbound tourism increased at the end of 2019, a senior official, who preferred not to be identified, said.
The official added that Travco aims to bring the average (...)
A government source estimated Egypt's consumption of petroleum products and natural gas at 92.4m tonnes in the fiscal year (FY) 2019/20, compared to 89.7m tonnes in FY 2018/19.
Egypt's consumption of natural gas rose from 48m tonnes in FY 2018/19 to (...)
The Ministry of Petroleum aims to increase the revenues of Egypt's oil exports by the end of the current fiscal year (FY) to $8.5bn compared to $7.7bn FY 2018/19.
Senior government sources told Daily News Egypt that the total quantities targeted for (...)
Misr Travel aims to obtain EGP 150m loan from the European Bank for Reconstruction and Development (EBRD) to finance the renewal of its tourist transport fleet, a source at the company revealed.
He added that the company aims to buy 50 new tourist (...)
The Central Bank of Egypt's (CBE) decision to cut interest rates by 2.5% over the last two meetings of its Monetary Policy Committee will save the state budget EGP 20-25bn annually, as every 1% reduction in interest rates saves EGP 8-10bn annually (...)
The Ministry of Petroleum and Mineral Resources aims to produce of 40.17m tonnes of oil and condensates during the current fiscal year (FY) 2019/20, compared to 38.7m tonnes last FY, a growth of 3.8%.
A government source told Daily News Egypt that (...)
Government sources estimated investments directed to the oil and natural gas sector during the current fiscal year (FY) 2019/20 at $10.633bn, a growth of 15% compared to FY 2018/19.
The sources told Daily News Egypt that the investments of foreign (...)
Nesma Airlines aims to increase passenger traffic to and from Egypt by the end of this year to 450,000 passengers, a growth of 23.6% over last year, the company's CEO Ashraf Lamloum told Daily News Egypt.
Lamloum said that the growth in tourist (...)
The Ministry of Petroleum and Mineral Resources aims to increase the total mineral sales by about 2% during the fiscal year FY 2019/20, through increasing the production of mining and quarrying materials from different concession areas.
A government (...)
The Ministry of Tourism's dues for lands allocated to hotel and resort projects amounted to $180m until the end of last year.
A senior government official told Daily News Egypt that 600 investors have obtained land plots from the Ministry of Tourism (...)
Prominent government sources estimated that imports of crude oil and petroleum products during the fiscal year (FY) 2019/20 to decline by 21.8% to 22.2 million tonnes of crude oil, compared to 28.4 million tonnes, in previous FY.
Consequently, (...)
The Egyptian General Petroleum Corporation (EGPC) is expected to achieve a net profit of EGP 21.4bn during the current fiscal year (FY) 2019/20, down EGP 6.4bn (30%) from FY 2018/19, according to official sources.
The share of EGPC net profit of the (...)
Taamir company for Development and Tourism Management Chairperson and Former Tourism Minister, Hisham Zaazou, said that the government represented in New Urban Communities Authority has allocated approximately EGP 500m in fiscal year 2018/19 for the (...)
The Egyptian Mineral Resources Authority (EMRA) aims to increase its profits to EGP 2.46bn during the current fiscal year (FY) 2019/20, compared to EGP 2bn in last FY, a growth of 23%, according to a government source.
The source recommended that (...)
The Egyptian Ministry of Petroleum aims to export 12m tonnes of natural gas during the fiscal year (FY) 2019/20 worth $2bn against $580m during the current FY, according to government sources.
A source at Egyptian Natural Gas Holding Company (EGAS) (...)
Novavera Sport is set to open its first football factory in the Middle East in early July at the 6th of October industrial zone.
Mahmoud Al-Assiouty, the Chairperson of the company, told Daily News Egypt that ” Novavera” owns the brand “Tempo Sport” (...)
The companies hired to develop Alexandria, Suez, Ismailia, and Salam stadiums, which will host the Africa Cup of Nations (AFCON) from 21 June to 19 July, have requested $60m (EGP 1.02bn) from the ministry of youth and sports for the development (...)
The Parliament's economic affairs committee started on Saturday discussing a bill submitted by the government to amend certain provisions in the Protection of Competition and the Prohibition of Monopolistic Practices Law.
The government is (...)