Foreign ministers of Egypt and Cyprus have said the prospect of cooperating to exploit offshore hydrocarbons reservoirs is vast. However a “dispute between Egypt and Israel might ensue", petroleum agreements expert and member of the Association for (...)
The Ministry of Finance will introduce a new computerised financial surveillance system to rationalise government spending.
“The Ministry of Finance has been working on a comprehensive project to computerise the financial operations related to the (...)
Tarek El-Sherbini talks to the Daily News Egypt. (FILE PHOTO / DNE)
Senior representative of the European Bank for Reconstruction and Development (EBRD) to Egypt and Jordan, Tarek El-Sherbini, said the bank will open in Egypt. “We expect the bank's (...)
Vimpelcom, the Russian parent company of the Egyptian Orascom Telecom Holding (OTH), plans to dispose of OTH's African businesses.
OTH confirmed that there is an intention to sell its Sub-Saharan African businesses, though the company stressed that (...)
The government has announced plans to establish its first small and medium sized petrochemical industrial parks, and a new holding company to run the project.
The industrial parks are planned to provide petrochemical products that can be used in (...)
The National Bank of Egypt (NBE) stated targeting a reduction in its bad debts portfolio by EGP 1.1 billion by the end of the current fiscal year, 2012-2013.
“NBE targets to reduce bad debts portfolio to reach to EGP 5 billion by the end of the (...)
Egypt and Italy are to launch a joint Forum on 4 November to discuss boosting economic ties and investment opportunities.
The Italy-Egypt Forum is organised by the Italian Egyptian Association for Friendship and Cooperation, founded in Rome in (...)
Prime Minister Hesham Qandil arrived yesterday in Algeria for a three-day visit amidst speculative press reports over the visit's agenda.
State-owned Middle East News Agency (MENA) reported the objective of Qandil's visit to Algeria is to hold talks (...)
Domestic liquidity increased by 8.9 per cent on an aggregate level in August, an encouraging monetary development amid an ongoing lack of confidence.
Monescope Egypt, a monthly tracker of monetary developments attached to Belton Financial, reports (...)
The Ministry of Finance's head of the Public Debt Unit, Samy Khallaf, declared that a preliminary agreement has been reached with 10 international investment banks to carry out the procedures of issuing the first Egyptian Islamic Sukuk in (...)
President Mohamed Morsy targeted five companies yesterday, stating that they owe the government more than EGP 100 billion.
Morsy's lengthy speech commemorating the 39th anniversary of the October war against Israel was turned into a report of sorts (...)
The three leading Islamist parties will hold a workshop next week to discuss a draft legal framework to regulate the issue of sukuk (Islamic Shari'a compliant bonds).
Ahmed Al-Naggar, member of the economic committee at the Freedom and Justice Party (...)
Members of prominent Islamist parties are set to meet with Minister of Investment Ossama Saleh next Monday to discuss the possibility of introducing Islamic debt guidelines.
“This meeting is mainly to coordinate between political parties and the (...)
The Egyptian Stock Exchange (EGX) will implement a new closing price mechanism on Thursday.
Egypt's financial watchdog, the Egyptian Financial Supervisory Authority (EFSA), approved the new regulations for changing stocks' closing prices, as (...)
Emirates Heights, a touristic real estate developer, hosted a roundtable with representatives from the Egyptian press to clarify the company's position, after a series of protests against the company were triggered weeks ago, against the backdrop of (...)
Under the auspices of Prime Minister Hisham Qandil, Cairo-based Beltone Financial Holding launched a three-day conference on the future of investment in Egypt, titled New Dawn.
The conference aims to provide a platform for discussion presenting (...)
The Kuwaiti government, represented by the Kuwait Fund for Arab Economic Development (KFAED), has a signed a deal to loan 17 million Kuwaiti Dinars ( $60 million) to aid the expansion and development of the Egyptian natural gas distribution grid.
In (...)
The Ministry of Finance has reported it will issue an additional EGP one billion in Floating Rate Notes (FRNs) by the beginning of October.
FRNs are bonds with a variable interest rate that changes every six months and is tied to a certain (...)
Within the coming few days a presidential decree is to be issued to amend Sinai Development Act number 14 for the year 2012, which Prime Minister Hisham Qandil's cabinet approved in its last meeting, state-run Al-Ahram reported Saturday.
According (...)
Minister of Industry and Foreign Trade Hatem Saleh approved the establishment of a mining holding company at the opening ceremony of the National Vision for Mining Wealth Conference held Tuesday.
According to government officials, the move toward (...)
Several Turkish companies expressed interested in investing in Egypt's electricity sector, Turkish Ambassador to Egypt, Huseyin Avni Botsali, said according to MENA.
Bostali led the talks of the Turkish business delegation in a meeting with the (...)
Driven by the current financial shortfall, the Egyptian government has begun discussions regarding prospective public-private partnerships (PPP). According to officials, PPP are intended to catalyse infrastructure development, of which the country (...)
The Sixth of October for Development and Investment Company (SODIC), Egypt's third largest real estate developer, reported to the Egyptian Stock Exchange that no lawsuits were filed against them by the Lebanese multinational real estate developer (...)
Under the slogan “Future Tax System and its Impact on the Economy and Investment,” the Egyptian Society for Taxation (EST) sponsored a conference yesterday, discussing new reforms which would enhance the Egyptian taxation system.
The conference was (...)
Members of the Organisation of Petroleum Exporting Countries have confirmed a $30million loan for Egypt aimed at food security and poverty alleviation.
The international development funding arm of OPEC, the Fund for International Development (OFID), (...)