Last Wednesday marked the final deadline for companies to join the electronic invoice system set up by the Egyptian Tax Authority (ETA).
An electronic invoice (e-invoice) is a digital document that records the buying and selling of goods and (...)
Cotton prices in Egypt have jumped to record levels amid increased demand and a decrease in global production.
The price of a qantar of cotton (about 157kg of seed cotton or 45kg of lint cotton) has increased by more than 70 per cent compared to (...)
The latest report issued by the UN Intergovernmental Panel on Climate Change (IPCC) "Climate Change 2021: The Physical Science Basis", released on 9 August, was a wake-up call for immediate action to avoid what it described as the catastrophic (...)
In its bid to push up sales of zero-emission vehicles, Egypt has received 13 electric cars from the Chinese company Dongfeng Motor Corporation to try out on the streets of the capital as part of an agreement with Al-Nasr Automotive to locally (...)
Sharm El-Sheikh and Hurghada, Egypt's famous Red Sea resorts, are preparing for the return of direct flights from Russia next week after a six-year hiatus since the 2015 Russian plane crash in Sinai.
Russian flights between Moscow and the two (...)
Egypt's economic growth is expected to rebound strongly to 5.2 per cent in the 2021-22 fiscal year, according to the International Monetary Fund (IMF), almost doubling the 2.8 per cent growth for 2020-21.
President Abdel-Fattah Al-Sisi directed the (...)
In a move aimed at limiting losses due to an oversupply of local cement production, the Egyptian Competition Authority (ECA) has decided that all cement companies working in Egypt will reduce production starting on 15 July.
Decision 56/2021 means (...)
Since 1 July, the Ministry of Electricity and Renewable Energy has increased electricity prices on residential units by between eight and 26 per cent depending on the consumption bracket.
The increase comes as part of an energy subsidies phasing-out (...)
The first Forum for Heads of African Investment Promotion Agencies (IPAs) brought together Egyptian and African ministers, officials, and businessmen to discuss investment opportunities across the continent, and ways to improve the investment (...)
The Central Agency for Public Mobilisation and Statistics (CAPMAS) said on Sunday that Egypt's trade balance deficit had decreased by 25.2 per cent to $2.69 billion during March this year, compared to $3.59 billion for the same month in 2020.
The (...)
The cement industry in Egypt has not been seeing its best days. Over recent years, it has suffered losses of more than LE1 billion due to an oversupply of production. Egypt's production capacity reached 83 million tons in 2020, while domestic (...)
Egyptian Minister of Housing, Utilities and Urban Communities Assem Al-Gazzar led a delegation to inspect work being done on Tanzania's Julius Nyerere Dam and its hydroelectric power station on Saturday, which is being built by a consortium of (...)
Prime Minister Mustafa Madbouly last week handed over the keys to the first batch of beneficiaries who had applied to replace their old vehicles with new natural gas powered cars under Egypt's Go Green initiative.
The initiative, announced in July (...)
Since the World Health Organisation (WHO) declared the Covid-19 pandemic a global pandemic in March 2020, businesses have been struggling to cope with the crisis and the disruption it has brought to different sectors of the market.
Although everyone (...)
The disruption of maritime navigation in the Suez Canal caused by the lodging of a giant containership, the Ever Given, wedged sideways on 23 March before being refloated and cleared on 29 March has led to concerns over supply chains, prices, and (...)
Egypt's House of Representatives last week approved amendments submitted by the government to modify some provisions of the law regulating business restructuring, preventive composition, and bankruptcy.
According to Parliamentary Speaker Hanafi (...)
The real estate sector in Egypt has been one of the sectors hardest hit by the coronavirus pandemic, and in addition there is an excess of supply against poor demand, according to Ahmed Barakat, founder and CEO of V Expos and organiser of V Estate (...)
After an eight-year hiatus, the Damietta liquefied natural gas (LNG) plant has re-opened, and two cargoes were shipped last week by the Italian energy company Eni, the main shareholder in the facility.
According to Eni, the main gas-producer in (...)
Egypt's Ministry of Civil Aviation has denied reports of the resumption of chartered flights between Russia and the Egyptian Red Sea cities of Sharm El-Sheikh and Hurghada after a five-year hiatus following the crash of a Russian flight in Sinai in (...)
Car sales in Egypt continued to rise year-on-year during 2020, recording a 32-per-cent rise despite the coronavirus pandemic, a report issued by the Automotive Information Council (AMIC) has said.
More than 168,000 passenger cars were sold in the (...)
Egypt's headline inflation went down to 4.3 per cent in January from 5.4 per cent in December, according to the Central Agency for Public Mobilisation and Statistics (CAPMAS), reports Ahmed Kotb.
The CAPMAS report cited a 1.6 per cent decline in (...)
Minister of Finance Mohamed Maait told MPs on Monday that Egypt was one of only a few countries in the world to have achieved high growth rates during the Covid-19 pandemic, thanks to its economic reform programme.
Maait said during his policy (...)
The soaring prices of crypto-currencies, notably Bitcoin, have been tempting many people wanting to achieve quick gains through investing in digital currencies, especially with the decreasing value of the dollar due to US Federal Reserve decisions (...)
Egypt is getting closer to becoming a regional energy hub, exporting its excess production of natural gas and facilitating exports from neighbouring countries. It has also embarked on several projects connecting the electricity grids of Arab, (...)
The new association agreement signed between Egypt and Britain on 5 December provides a platform to deepen trade and investment relations between the two countries after Brexit by securing free trade.
The agreement, expected to enter into force on 1 (...)