Egyptian companies do not realise the potential of an online presence, according to a study conducted by the Egyptian Business Directory and Absolit Consulting, evaluating the online performance of Egypt's top 50 companies.
The top five companies (...)
For the seventh consecutive day, the Egyptian pound declined against the US dollar in a Central Bank of Egypt (CBE) auction reaching EGP 7.46 on Wednesday, declining almost three piasters.
The US dollar exchange value jumped to EGP 7.5 in the (...)
The Ministry of Tourism has launched promotional campaigns to encourage trips to Luxor and Aswan in order to boost domestic tourism, according to Ahmed Moustafa, the manager of the Egyptian Tourism Authority's Red Sea office.
Moustafa explained (...)
Obourland Cheese Company is set to establish a new cheese factory and a new factory for juice and milk production, worth EGP 100m in total investments.
The cheese factory will include three production lines with investments worth EGP 50m to operate (...)
The Red Sea Port Authority signed an agreement Wednesday along with the general authority for Abu Dhabi Ports to boost the relations between Egypt and UAE.
The agreement is also aimed at developing both countries' maritime transportation system, (...)
For the second consecutive day, the Egyptian pound dropped at the Central Bank of Egypt (CBE) sale, to reaching its lowest levels since 2012. The drop, however, raised stock market analysis for bigger purchases on the Egyptian stock market.
Market (...)
The eminent shortage of liquefied petroleum gas (LPG) cylinders is expected to end in three days, according to Minister of Supply and Domestic Trade Khaled Hanafy Monday.
Hanafy added that the government has also pumped more than the norm in butane (...)
Qatar National Bank (QNB) Group announced Tuesday that its net 2014 profits surged 10.3% reaching QAR10.5bn ($2.9bn) compared to QAR9.5bn ($2.6bn) in December 2013, according to a QNB statement.
The statement showed the increase was driven by an (...)
Despite the 400% increase in internet penetration in Egypt between 2004 and 2014, just over 3,000 people are transacting online, according to a report published by Egypt's Business Directory.
Of this number, online payments remain unpopular, with (...)
Qatari Diar (QD) is one of the major real estate companies in Qatar, belonging to the Qatari Investment Authority (QIA). The company was founded in 2005 to support the country's growing economy and to implement real estate development projects (...)
The Egyptian Real Estate Taxation Authority (RETA) has exempted approximately 1.2m residential units from the new taxes law, according to a Ministry of Finance press release on Monday.
The change will see that families with units worth less than EGP (...)
The Cairo governorate is looking forward to surveying the available lands of the Cairo Nile corniche in the first quarter of 2015 to be offered in public auction in order to pump new investments, according to a senior official in the Cairo (...)
Resignation rates in Egypt reached their highest levels in 2011, accounting for 2% of the total employment rate, according to a November research paper published by the Economic Research Forum (ERF).
The paper analysis shows that the share of (...)
Since the 25 January Revolution, Egypt's economic outlook was downgraded several times by international credit rating agencies.
The downgrades came about due to violence and political instability, which took a massive toll on investments and foreign (...)
Egypt's economic growth rate is expected to rise during the current fiscal year 2014/2015 from 3.5% to 3.8%, due to increases in the manufacturing industries' rates, along with the operations of the Suez Canal project, said Minister of Planning (...)
After several suspensions of landline services, Egypt Telecom media office spokesperson Mohamed Azab told Daily News Egypt there is nationwide replacement of fibre cables to copper ones, as part of a technical upgrade to provide faster internet (...)
Despite two years of recession, the car market in Egypt witnessed a significant increase in prices, causing a wave of popular frustration among purchasers.
Chevrolet, Kia and Hyundai and Suzuki car prices increased by EGP 1,000 to EGP 11,000 in the (...)
A final verdict will be released on 28 October 2014 against the tycoon Nassef Sawiris to end the two-year tax dispute, according to a statement released by Orascom Construction Industries (OCI NV).
The statement read that OCI submitted all the (...)
The Central Bank of Egypt (CBE) have stopped selling Suez Canal investment certificates after reaching EGP 61bn needed for the new canal extension project, the CBE governor Hesham Ramez announced on Tuesday.
Ramez said the banks collected almost EGP (...)
Newly launched Emirati company VFS Tasheel has sparked concern from Egyptian recruitment companies due to its acquisition of between 60% and 70% of visas and work permits for Saudi Arabia.
VFS Tasheel manages the recruitment process for Egyptian (...)
Despite its introduction to Egyptians three years ago, Baseta, a service provider in completing government documentation, has only recently gained recognition after launching a Facebook page for better outreach and accessibility.
The company's (...)
The Egyptian National Railway Authority (ENRA) is losing EGP 5m daily due to the disruptions of service, with EGP 30m losses in the last six days, said the ENRA deputy head of financial affairs Talaat Kassab.
Following the dispersal of sit-ins near (...)
Despite concerns of political unrest, tourist numbers were up 16.4 % year on year in June, according to the latest bulletins of Central Agency for Public Mobilisation and Statistics (CAPMAS) on Tuesday.
The bulletin reported that the total number of (...)
The Egyptian National Railway Authority (ENRA) is losing EGP 5m daily due to the disruptions of service, with EGP 30m losses in the last six days, said the ENRA deputy head of financial affairs Talaat Kassab.
Following the dispersal of sit-ins near (...)
The Federation of Egyptian Chambers of Commerce (FECC) agreed with the supply authority of the military, along with the government to allow the transportation of products during the curfew, Head of FECC Ahmed El-Wakil said.
"The decision is expected (...)