Looking for possible ways to bring more cash into state coffers, the government has decided to take steps to regain state-owned land that may have been illegally built upon after a call last week by President Abdel-Fattah Al-Sisi.
The (...)
“Mobile-based applications are the only way I can keep in touch with my parents,” said Marwa Samir, an Egyptian photojournalist living in New York. Boston University graduate Samir said that her parents also used the Internet to communicate with her (...)
The floatation of the Egyptian pound has led to a spiralling increase in the prices of imported goods, among them home appliances, with customers now not only complaining of exaggerated prices but also of the unavailability of many brands.
Prices of (...)
Karim Abdel-Hadi, a 32-year-old sales employee, is getting married soon and is in the process of furnishing his apartment. He has decided that instead of shopping at furniture shops, he will go the old-fashioned way and have a carpenter fit out his (...)
“The prices of everything have tripled, and I have no clue how we will continue to get by,” Manal Mahmoud, a 38-year-old mother of two in Cairo, said this week.
The price hikes have become noticeable on nearly all local and imported products, (...)
Nabila Gaber, a 64-year-old Cairo housewife suffering from heart disease, last month stocked up on all her pharmaceutical needs for a couple of months after she heard news about potential price increases on medicines.
“If I hadn't done so I would (...)
More than 5,000 entrepreneurs and start-up managers gathered over three days in the heart of Cairo this week for the annual RiseUp Summit in order to exchange ideas, get exposure and seal deals.
For the fourth consecutive year, RiseUp took place at (...)
The cabinet cancelled a temporary decree to lift custom tariffs on poultry imports on Monday after Prime Minister Sherif Ismail met earlier this week with local poultry producers and representatives from the Federation of Egyptian Industries who had (...)
Consumer Protection Agency head Atef Yacoub has called on consumers to take action today to boycott shopping as a way of putting pressure on retailers accused of taking advantage of the country's spiralling prices.
The first day of the month was (...)
Sales of new cars in Egypt declined in the first eight months of 2016 by 25.6 per cent, compared to the same period last year, according to data from the Automotive Marketing Information Council (AMIC), an industry group. 98,400 new cars have been (...)
Egypt has been suffering from continuous price increases over the past five months, following a devaluation of the Egyptian pound in March and adding burdens to many people.
Last week, Minister of Electricity Mohamed Shaker added to these concerns (...)
In mid-June, the Central Bank of Egypt's (CBE) Monetary Policy Committee decided to raise the benchmark overnight deposit rate, overnight lending rate and its main operations rate by one per cent to 11.7 per cent, 12.75 per cent and 12.25 per cent, (...)
Demand for food increases in Egypt by at least 30 per cent during Ramadan, with family feasts and gatherings after evening prayers being a main feature of the holy month. This year, however, the devaluation of the pound has meant that the prices of (...)
In a crowded city like Cairo, the metro is considered the fastest means of transportation, used by almost all classes and segments of society. Different work and college hours in Cairo mean the Metro is always jammed with passengers, who sometimes (...)
This time last year, a sizeable segment of society was hailing the end of Egypt's economic crises amid celebrations of the success of its first economic summit. Heads of state, CEOs of international companies and other prominent officials gathered (...)
Production from steel factories is expected increase by 100% following new measures announced by the Ministry of Industry, Director General of the Chamber of Metallurgical Industries in the Federation of Egyptian Industries (FEI) Mohamed Hanafi (...)
The value of the US dollar against the Egyptian pound has long been a major shaper of Egypt's economic status. The market fluctuations have proven on numerous occasions to the average Egyptian citizen that the dollar rate is linked to the prices of (...)
The growing customer base of the application-based car service, Careem, prompted the company to introduce a new pricing strategy on Thursday.
General Manager of Careem Egypt Hadeer Shalaby said in a statement the company is facing a challenge (...)
In recent years, the Egyptian government has pursued fiscal reform by imposing a series of austerity measures that aim to stimulate GDP growth, reduce the budget deficit, and improve the credit rating of the country. However, these policies have had (...)
The launch of East Port Said harbour will take place on the third day of the Suez Canal Global Conference (SCGC), Chairman of Suez Canal Authority (SCA) Admiral Mohab Mamish said.
Work conducted in the port will help double the capacity of ships it (...)
Uncertainty has reigned among public sector workers following the rejection of the Civil Service Law that was issued in March 2015 by presidential decree.
The law, which overhauled the system of salaries and bonuses across state institutions and (...)
Despite widespread protest among local taxi drivers against Uber and Careem drivers, no legal action has been taken against either company so far.
Protest of taxi drivers has raised customer awareness about application-based car services. Careem (...)
Egypt cancelled another wheat tender Sunday after extending the application deadline for an extra day.
However, the General Authority for Supply Commodities (GASC) did not indicate the reasons for the cancellation, Bloomberg Business News (...)
Recent rejections of French wheat imports due to the presence of a high level of ergot fungus have prompted some experts to suggest that Egypt looks to other suppliers.
The rejection of wheat import shipments has raised concerns over whether EU (...)
The General Authority for Supply Commodities (GASC) announced earlier this month a tender to buy 55,000 to 60,000 tonnes of wheat, to be imported from 2 to 11 March.
Egypt faces an impending crisis in its main food commodity as suppliers boycotted a (...)