CAIRO: Official data released by the Central Bank of Egypt (CBE) showed Egypt's net international reserves (NIR) up 4 percent to $32.9 billion in August from $31.6 billion in July 2009, Reuters reported.
Egypt's net international reserves have (...)
CAIRO: Egypt will invest LE 60 billion in the local transportation sector, announced Minister of Transportation Mohamed Mansour.
This allocation of funds will be used to make improvements in the national road and railway networks, enhance public (...)
CAIRO: Egypt's oil and gas sector topped other sectors in terms of growth for the fiscal year ended June 2009, Minister of Petroleum Sameh Fahmi announced Thursday.
According to the minister's statement, growth in the oil and gas sector accounted (...)
CAIRO: With a turnover of over ?16 billion in 2008, Alcatel-Lucent is clearly getting back on its feet.
After a turbulent merger between Lucent and Alcatel in 2006 that prompted many changes in the structure of the company and less than ideal (...)
Palestine's premier dance troupe, El-Funoun, gave Cairo a taste of Palestinian folklore Monday evening at the Cairo Opera House.
The performance, entitled "Images Remembered, was organized by the Palestinian Embassy as part of the Cairo Opera (...)
CAIRO: Creating cutting edge technology isn't just about driving sales at Intel.
This dynamic company is committed to bringing the benefits of technology to emerging markets through their World Ahead program, and gaining new markets in the (...)
CAIRO: P&G aims to please. At this dynamic company, consumers, community and employees are coming away satisfied, thanks to ongoing efforts to invest in sustainability.
Recently the company was awarded the prestigious Hewitt Award, an (...)
CAIRO: Telecom Egypt has called the promotional pricing offers announced for the month of Ramadan by local mobile operators "deceptive, Al-Masry Al-Youm reported.
The local telecom giant, the country s sole fixed-line operator, called the offers (...)
CAIRO: The International Monetary Fund (IMF) has implemented a plan to inject $283 billion into international markets, with Egypt receiving $1.2 billion to be added to its international reserves balance.
IMF's plan, launched Aug. 28, was (...)
CAIRO: Domestic liquidity increased 6 percent during July and August from LE 45.8 billion to LE 812.4 billion, according to a report issued this week by the Central Bank of Egypt (CBE).
Liquidity in the banking sector refers to a bank's ability (...)
Moody's Investors Service moved Egypt's sovereign ratings and ceilings back to stable from negative in a report issued last week.
Moody's ratings reflect the rating agency's outlook on fundamental credit conditions in the banking sector into the (...)
CAIRO: Trade exchange between the United States and Egypt could reach $16 billion by 2013, bolstered by closer economic cooperation between the two countries, Egyptian Minister of Trade and Industry Rachid Mohamed Rachid said Monday.
"The US (...)
CAIRO: Minister of Electricity and Energy Hassan Younes inaugurated a 10-megavolt electrical plant in northwestern Egypt in a ceremony Thursday, Egypt's State Information Service reported.
The new plant, which is being undertaken with investments (...)
CAIRO: Egypt's capital led Africa in foreign direct investment (FDI) growth for 2008, according to a report by the Financial Times' FDI Intelligence.
The report, entitled "FDI Special Report: The Shape of Things to Come, includes a performance (...)
A newly released report predicts a rapid recovery and a bright future for Egypt's auto industry, bolstered by a forecasted explosion of the local retail market.
The Egypt Retail Report Q3 2009 released recently by Business Monitor International (...)
The presence of hefty price tags on even the simplest cars is standard fare for Egyptian consumers used to the high import tariff rates.
High sticker prices combined with a slowly emerging auto finance market has made buying a car in Egypt a (...)
CAIRO: Egypt signed six oil and natural gas exploration agreements with Egyptian and international companies, the Ministry of Petroleum said Sunday.
The contracts are valued at $2.3 billion, said Petroleum Minister Sameh Fahmy at the signing (...)
CAIRO: The Egyptian government is working on a plan to reclaim 3.4 million feddans of desert land for farming to improve Egypt's food security by 2017, according to Egypt's State Information Service.
The reclamation plan was outlined in a report (...)
CAIRO: Orascom Telecom (OT) and sale consultant EFG Hermes are currently reviewing bids for the sale of OT subsidiary LinkDotNet.
The sale, which was postponed in January, resumed in July with Mobinil, Vodafone, Telecom Egypt and two other (...)
CAIRO: Egypt's real estate sector will experience a gradual recovery due to "slower economic growth and oversaturation at the high end of the market, according to a recent report.
Local investment bank EFG Hermes outlined its outlook for the (...)
CAIRO: Egypt's budget deficit came to 6.9 percent of GDP for the fiscal year that ended in June, the Ministry of Finance confirmed Monday.
This is a big achievement considering the global financial crisis that shook the rate of growth and (...)
CAIRO: Ministers of Trade and Industry from across Africa gathered Monday in Cairo for the 18th Conference of African Ministers of Trade (CAMI).
The inauguration of the South-South Industrial Cooperation Center, and an Egypt-sponsored scholarship (...)
CAIRO: Local steel and cement producers announced pricing policies for August, the local press reported Sunday.
We expected a decline in steel prices and prices have been declining gradually over the past two months. I expect prices to drop a (...)
CAIRO: Local banks have adopted a more conservative stance towards lending in foreign exchange following a restriction in foreign currency supply resulting from the international financial crisis.
Central Bank of Egypt (CBE) governor Farouk (...)
CAIRO: Minister of Trade and Industry Rachid Mohamed Rachid has removed temporary safeguard measures on imported sugar, according to a ministry press statement released Wednesday.
Rachid imposed the temporary protective tariff of LE 500 per ton (...)