The novel coronavirus (COVID-19) pandemic has severely impacted the global economy, as lockdowns, uncertainty, and demand drop put pressure on businesses.
To get a clearer picture on the post COVID-19 economy and how Egypt will perform, Daily News (...)
The AfricInvest Fund is planning to invest $80m- $100m in the Egyptian market 2020 and 2021.
The investments of the company may come through the new fund to be launched by the end of next June, with an initial closure of $250m, or through other (...)
The Ministry of Public Enterprise Sector announced the completion of the Middle East and North Africa's largest information technology tender for the digital transformation of the ministry's subsidiaries. SAP and Microsoft won the tender to manage (...)
Hala Al-Saeed, Minister of Planning, Monitoring , and Administrative Reform, said the last fiscal year (FY) 2018/19 witnessed the implementation of 6,200 projects in various sectors and programmes, at a total cost of about EGP 490bn, of which 32 (...)
The Ministry of Communication and Information Technology (MCIT) is preparing to introduce the E-Transactions Act as an alternative to the E-Commerce Law. The MCIT will begin community dialogue sessions with relevant government agencies, e-commerce (...)
The Minister of Planning, Follow-up and Administrative Reform, Hala El Saeed, said that the automation of government services, as well as the digital transformation, is considered as one of the pillars of the comprehensive plan for the (...)
The OPEC Fund for International Development (OFID) secured $165m in financing for the Egyptian market from January to the end of June. Saud Al-Rajhi, a member of OPEC's private sector finance and trade department, said the first half funds included (...)
This morning, the ministry of public enterprise sector launched the Gosour application to facilitate trade in Africa.
The Minister of Public Enterprise Sector, Hesham Tawfik, said during his speech at the ‘Gosour for International Trade in Eastern (...)
“The success of the company, using German expertise, in replacing clay beehives with wood-made beehives saved Egyptian bees from extinction,” said Mahmoud Bezan, regional head of Hero Middle East and Africa. He noted that there has been a huge (...)
Minister of Planning Hala Al-Saeed said the board of directors of the Egypt sovereign wealth fund will be formed next month after choosing an executive manager for the fund.
She added that four candidates are competing for the position, including (...)
The Egyptian Customs Authority began to review a large number of commercial invoices of imported Chinese cars after monitoring a difference between official price guides of Chinese brands and the invoices provided by importing companies up to (...)
The government committee supervising the state IPO programme gave the green light for resuming offering process of the Engineering for Petroleum and Process Industries (Enppi) on the Egyptian Exchange (EGX).
Officials responsible for the offering (...)
The Central Auditing Organisation (CAO) said that the balance sheet for the last fiscal year (FY) 2017/18 showed that the state's special funds did not deliver EGP 1.7bn to the ministry of finance.
Mervat Elksan, a member of the Plan and Budget (...)
Fakhry Al-feki, economic expert warned Egyptian authorities of postponing some of the measures agreed upon with International Monetary Fund (IMF), explaining that reforms postponement would negatively reflect on International institutions' trust of (...)
The government, represented by the Egyptian Tax Authority (ETA), is considering introducing a package of incentives to encourage companies to use and manufacture electric cars locally to help reduce carbon emissions and reduce the subsidy bill for (...)
Egypt's Finance Minister, Mohamed Moeit, announced that the list of items of non-essential imports will be revised on a monthly basis.
Moeit explained during a press conference on Sunday, that if some non-essential imports were severely affected by (...)
Egypt and the EU signed an agreement on 25 June 2001 in Brussels to establish a free-trade zone for a maximum period of 12 years from the time the agreement goes into gradual effect, while liberalising Egyptian imports from industrial goods of the (...)
The Ministry of Finance is considering increasing Egypt's customs' dollar exchange rate next month as the ministry reviews the rate on a monthly basis.
Governmental sources told Daily News Egypt that there is an intention to raise the value of the (...)
The total value of cars released according to the Egyptian-European partnership agreement over the past three years was estimated at EGP 30.4bn for a total of 144,000 cars.
The car values imported in accordance with the agreement the previous year (...)
After the Cairo Criminal Court ordered on Saturday to arrest the sons of former President Hosni Mubarak and Hassan Heikal, member of the board of directors of EFG Hermes, in the "stock market manipulation case", the report of the Experts Committee, (...)
The investment bank of EFG Hermes has diversified the services it offers over the past period through concentrating on financial market and offerings, in addition to adding operations of debt market, as well as geographic expansion in emerging (...)
Reducing publid debt to lower than the 75% of the GDP mark is one of the main priorities of the current government, and the Ministry of Finance.
The ministry needs to work with other economic group ministries in harmony to formulate several (...)
Ahmed Kouchouk, deputy minister of finance for fiscal policies, told Daily News Egypt that the government aims to collect proceeds of EGP 20bn from floating the first five government companies on the Egyptian Exchange (EGX) before the end of 2018, (...)
Japan Tobacco International (JTI) is considering launching a new product in the Egyptian market this year in coordination with the Eastern Company.
Khaled Ismail, the head of the external relations sector within the company, said that JTI's new (...)
Eastern Company is negotiating with a number of foreign tobacco companies located in the market to add new products in the middle price segment through partnerships.
The first consumption segment is priced with a maximum of EGP 18 per pack, middle (...)