European experts have warned of investment risks in Egypt, as the economy has been hit by numerous labor and political upheavals since the revolution began on 25 January.
“The risks of investing in Egypt have surpassed any possible returns,” said (...)
The Egyptian government signed an agreement on Wednesday with workers in the spinning and weaving industry to increase incentives, one day before a planned national strike on Thursday.
The agreement which includes increasing incentives for workers (...)
The Egyptian authorities on Tuesday issued an official warning to ONTV and Dream TV, two major Egyptian satellite channels, for not abiding by the terms of their licenses and the Media Code of Ethics.
The General Authority for Investment and Free (...)
Prime Minister Essam Sharaf said the IMF has decided to provide aid to Egypt to support infrastructure projects, without mentioning the aid's value or when it will be disbursed.
Mahmoud Eissa, Minister of Foreign Trade and Industry, said in a (...)
Analysts have predicted that Egyptian investments in Libya will be positively affected by the success of anti-regime rebels in ousting Libya's longtime leader Muammar Qadhafi from the country's capital, Tripoli.
They believe investments in the (...)
Sugar production firms run by the Food Industries Holding Company (FIHC) agreed in principle with state-run petrochemical companies to launch a project for producing plane fuel, FIHC head Ahmed al-Rakaiby has said.
The estimated cost of the project (...)
Egypt's government has ruled out the possibility of ceding public assets and companies in return for debt relief.
Minister of Planning and International Cooperation Faiza Abul Naga told Al-Masry Al-Youm that the government only engages in (...)
At their meetings with government officials and business associations over the past two days, a number of American investors said they do not fear the Brotherhood rising to power, but they need to be reassured that the government will continue to (...)
Investors and the representatives of a number of US companies have said that more American investments in Egypt are contingent on the government's adherence to free-market policies and the promotion of the private sector.
During Thursday's (...)
Bankers and economic experts said on Wednesday that international financial assistance provided by the United States, Saudi Arabia and the World Bank would not be of much help to the Egyptian economy.
The reason they cited was that the government (...)
A decline in corruption since the 25 January revolution is likely to lead to an increase in foreign investment in Egypt, said Osama Saleh, Chairman of the Egyptian General Authority for Investment and Free Zones (GAFI), during a press conference on (...)
Minister of Planning and International Cooperation Faiza Abul Naga on Wednesday said the Egyptian government has for the first time borrowed from its foreign reserve, bringing it down from US$36 billion to US$30 billion.
She added that the Egyptian (...)
Investment experts have warned investors against conducting transactions that involve shares owned by persons being investigated for corruption.
Mohsen Adel, managing director for Pioneers Investment Funds, advised stock exchange investors to be (...)
The Egyptian government on Sunday canceled preconditions for forming companies working in Egyptian media.
The General Authority for Investment and Free Zones has canceled requirements that media companies obtain the approval of security services (...)
The Egyptian Association for Retrieving Public Funds has called on the government to link Egypt's foreign relations with countries' willingness to divulge secret bank accounts of former Egyptian officials.
Association Secretary General Mohamed (...)
Mohamed Mahsoub, secretary-general of the popular "Egyptian Front for Reclaiming the People's Wealth," said the group had documents in its possession proving that certain former Egyptian officials had transferred large amounts of money to foreign (...)
A handful of international financial institutions have offered to finance Egypt's economy following the recent 25 January uprising, newly-appointed Finance Minister Samir Radwan said on Wednesday.
“Offers were made by the World Bank and the African (...)
A delay can be expected in the distribution of food ration cards to Upper Egyptian citizens in light of a strike by truckers who are protesting tax increases and bans on operation, according to an Egyptian government official.
The strike has entered (...)
Orascom Telecom Holding (OTH) plans to resort to international arbitration after the Algerian government levied additional taxes on Djezzy, the Algerian subsidiary of OTH, according to OTH chairperson Naguib Sawiris.
Sawiris said on Monday that an (...)
Company Al-Mokawloon Al-Arab "Arab Contractors" won a bid for US$35 million to build tunnels in the Ethiopian capital Addis Ababa.
In an interview with Al-Masry Al-Youm Engineer Ibrahim Mihlib said that the Ethiopian government informed the company (...)
The Council of Ministers approved a plan to attract United Arab Emirates (UAE) investment to Egypt. It also agreed to form committees headed by Minister of Trade and Industry Rachid Mohamed Rachid to meet with UAE representatives every three months (...)
Head of the Omar Effendi workers syndicate Mohamed Gobaily announced that the Tax Authority had seized control of the department store's bank accounts in order to collect some LE98 million in unpaid taxes, due since 2007 when the store was (...)
The Malaysian group Scomi is willing to partner with Orascom Group to establish an express train line linking Giza to 6th October City, assistant to the Minister of Investment Ibrahim Ashmawi told Al-Masry Al-Youm.
Officials from both companies (...)
Egypt has risen to 94th place out of 183 countries in the 2011 "Doing Business" report, issued jointly by the World Bank (WB) and International Monetary Fund (IMF), after coming in 99th in last year's report.
Saudi Arabia came in at 11th place as (...)
Iraqi officials recently lauded Egyptian development in the embattled country while urging more investment.
“Egyptian labor is the best for our urban development,” said Iraqi Transport Minister Amer Abdel Gabbar.
Previously, more three million (...)