As fears over water safety continue, measures are taken to ensuring mineral water prices remain unchanged.
The Consumer Protection Department at the Ministry of Supply and Internal Trade has instructed water mineral suppliers to pick up production (...)
Deposits worth $6bn received by the Central Bank of Egypt (CBE) from three Gulf monarchies last week will help meet the country's obligations for several months to come, analysts say.
Saudi Arabia, Kuwait and the UAE fulfilled their pledges made at (...)
Egypt's Railway Authority is working out the final touches on what would be its largest annual budget ever, estimated to reach EGP 12.8bn, which it plans to spend on developing and renewing a worn-out network.
The budget is a huge surge from the EGP (...)
Egypt expects its economy to grow between 4.2%- 4.5% in the second half of the current fiscal year, Investment Minister Ashraf Salman told state-run news agency MENA.
The forecast is the most recent of bullish readings indicating that the country's (...)
Egypt recorded a trade deficit of EGP 19.44bn in January, 20.7% less than the same period last year, according to the Central Agency for Public Mobilization and Statistics (CAPMAS).
The decrease came as the decline in global crude prices play in the (...)
The government decision replacing the system of obtaining on-arrival tourist visas at airports with electronically-obtained visas is likely to boost the sector and draw in new tourists, officials and analysts said.
"We expect to see a climb in (...)
The government's decision to move ahead with taxes imposed on capital gains and dividends has heightened fears of steering foreigners away from investing in Egypt's bourse, brokers and traders said.
Tension was recently renewed between brokers and (...)
Hassan Abdel Aziz, head of the Egyptian Federation for Construction and Building Contractors, told the Daily News Egypt that Egyptian contractors have been awarded a total of over SAR 1.5bn (approximately $400m) worth of contracts in the Saudi (...)
The building sector in Saudi Arabia was worth $41bn in 2014, accounting for 5.4% of the kingdom's gross domestic product (GDP), according to an HSBC report. According to analysts, however, Egyptian developers have close to no shares in the booming (...)
Egypt's newest megaproject was born many times before, each birth with the same goals and sense of novelty; each birth with the same controversy and questions about its feasibility and implementation, but never with the same glamour or size.
T new (...)
Stock markets of Dubai and Abu Dhabi are among the most attractive for Egyptian investors and the potential listing of Emirati firms in the Egyptian bourse is expected to spur more interest, NAEEM Brokerage's CEO said.
Referring to the listing of (...)
Egypt's real estate sector has room yet for more clarity, according to Sherif Raafat, former head of Egypt's Stock Exchange who currently heads a real estate fund managing firm, told Daily News Egypt.
Raafat added that it is in need of laws and (...)
The Central Bank of Egypt (CBE) has decided to cut the price margin for trading the US dollar with local banks to 5 piasters from the previous 10.
The move is another step to suffocate a parallel market that has blossomed over the past two years (...)
Minister of Investment Ashraf Salman and Suez Canal head Vice-Admiral Mohab Mamish signed a Memorandum of Understanding (MoU) regarding the establishing of the Suez Canal economic zone.
The signing took place on the third day of the Economic Summit (...)
The Abraaj Group, a global growth markets investor, , has successfully navigated through challenges it faced in the Egyptian market, especially through periods of unrest.
To do so, the company capitalised on the country's large consumer base.
In an (...)
Daily News Egypt sat with GE's Chairman and CEO Jeffrey Immelt, who said that Egypt is one of the company's key investment markets and believes that "there is a significant long-term gain for the country and businesses by shifting to renewable (...)
The second day of the Egypt Economic Development Conference (EEDC) started early Saturday with speeches from several Egyptian and Arab ministerial officials.
Prime Minster Ibrahim Mehleb said the government has adopted a new vision that will broaden (...)
Siemens AG reached agreements with the Egyptian government to build a 4.4 gigawatt Beni Suef power plant, along with a wind power plant in the next couple of years, President and CEO of Siemens AG Joe Kaesser said in the Egypt Economic Development (...)
There are five crucial elements for Egypt's sustainable economic development which should replace "Egyptians' misplaced obsession with the IMF, size of debts, and value of the pound", according to Mohamed El-Erian, Chief Economic Adviser at Allianz (...)
Egypt's recent years of turmoil was not exclusive to politics, but saw many projects dragged into legal webs of disputes in arbitration. This, along with the political unrest, shook investors' confidence in the Arab world's fourth largest (...)
Majid Al-Futtaim Holding LLC, the Dubai-based mall operator and retail franchisee, has its name tied to massive shopping malls sprawling across Egypt, and is expected to have more erected in coming years.
In an interview with Daily News Egypt, the (...)
BG Group PLC says it has no doubt that the Egyptian government will repay all its debts, confirming that it looks forward to continuing over 25 years of investments in the country.
BG's President in Egypt Arshad Sufi told Daily News Egypt, on the (...)
In its final report on Egypt, issued on 20 October, Moody's Investors Service said key drivers behind the country's outlook being upgraded from negative to stable were: the stabilised political and security situation; the government's initiatives (...)
Mohamed El-Erian, the chief economic adviser at Allianz SE, spelled out five elements crucial for Egypt's sustainable economic development, from which he excluded the size of debt, or value of pound.
Speaking with Daily News Egypt on the sidelines (...)
Fitch
In January, Fitch Rating Agency restored Egypt's outlook to stable for the first time since it was downgraded to negative nearly three years ago. This reflects an improvement in an economy hammered by years of violence and political (...)