Next Friday, 3 November, marks a year since Egypt has started its economic reform programme—one that has been the most difficult—to revive the ailing economy and achieve growth rates that reflect on creating jobs, curb unem- ployment, and improve (...)
The Egyptian government is intensifying its efforts to regulate the internal trade sector, which includes the operation of wholesale and retail markets, which are concerned with the supply of all basic and non-basic commodities to the public, so as (...)
The Industrial Development Authority's (IDA) officials are holding open negotiations with 25 Chinese companies, specialising in the spinning and weaving industry, that are currently visiting Cairo, to establish an integrated industrial zone (...)
After months of controversy, the Egyptian Cabinet finally approved the executive regulations of the new Investment Law. The new law provides a group of incentives, from tax breaks and rebates on projects established in underdeveloped areas and (...)
The Egyptian public debt has increased significantly by EGP 540.2bn at the end of June 2017, surpassing its previous largest hike of EGP 504.4bn in 2015/2016.
According to the Central Bank of Egypt's (CBE) September report, the domestic public debt (...)
The Central Bank of Egypt (CBE) has received about $125m from the World Bank as part of a loan to implement the local development programme in Upper Egypt.
The Minister of State for Planning El Saeed said, "After the financial transfer, we reviewed (...)
The Minister of Finance, Amr El Garhy, said that the International Monetary Fund (IMF) has not requested from Egypt imposing incremental taxes or offering monetary support to citizens in order to reduce the gap between social classes.
In a report on (...)
Minister of Finance, Amr El Garhy, said that the government aimed at reducing the budget deficit annually by between 1 and 1.5% to reach 4-5% in 2022.
"Reducing the deficit and public debt will save more resources to invest and raise private private (...)
Minister of Investment and International Cooperation Sahar Nasr held talks with officials of the World Bank to agree on the procedures and timing of disbursement of a third tranche of $1bn of the total $3bn loan from the World Bank in support of the (...)
About $947m was allocated for the establishment of a number of development projects in South Sinai governorate, Minister of Investment and International Cooperation Sahar Nasr said on Monday.
She held a meeting with Minister of Irrigation Mohamed (...)
Major controversy and responses caused by the statements of Minister of Health Ahmed Emad El-dein after he announced that his ministry is proposing a legislation to introduce fair pricing for all health services offered by the private sector, (...)
Prime Minister Sherif Ismail and Central Bank of Egypt (CBE) Governor Tarek Amer have decided on 90% of the reshuffle set to take place in the leaders of public banks, where Ismail is set to announce the full list within hours.
The three-year term (...)
The confidence crisis between the government and the private sector in Egypt has witnessed a major breakthrough after years of scepticism and injustice, said businessperson Yasseen Mansour, the founder and chairperson of publicly-traded Palm Hills (...)
Minister of Planning and Administrative Reform Hala El-Said said that the government is working on designing an ambitious programme to formalise the informal economy, which some estimate exceeds the formal economy.
She added that the programme (...)
President of the American Chamber of Commerce in Cairo, Tarek Tawfik, said that the chamber is currently arranging meetings between a number of major American companies and President Abdel Fattah Al-Sisi on the sidelines of his visit to New York (...)
The Ministry of Housing, represented by the New Urban Communities Authority (NUCA), signed a partnership agreement with Palm Hills Development Company to implement the October Waha City on an area of 3,000 feddans in the 6th of October City with (...)
The Egyptian Financial Supervisory Authority (EFSA) has approved a decision to reduce the time of temporary trading on stocks in the Egyptian stock exchange (EGX) from 30 minutes to 15 minutes during a session because of the price changes.
A (...)
Mohamed Farid, head of the Egyptian Exchange (EGX), met with officials of a number of futures exchanges on the sidelines of the annual conference of the World Federation of Exchanges in Bangkok.
Bilateral meetings included officials from the Nasdaq (...)
The Central Agency for Public Mobilization and Statistics (CAPMAS) said on Sunday that the annual inflation rate in Egypt reached 33.2% in August compared to the same month last year.
Thus, the annual inflation rate fell compared to July, when it (...)
Foreign exchange reserves at the Central Bank of Egypt (CBE) increased to $36.143bn at the end of August compared to $36.036bn at the end of July, an increase of $107m, the CBE said on Wednesday.
The country's foreign exchange reserves jumped to (...)
Minister of Investment and International Cooperation Sahar Nasr and the chairperson of the Suez Canal Authority and the Suez Canal Economic Zone (SCZone), General Mohab Mamish, agreed to undertake a tour to Singapore and Vietnam to promote the (...)
Foreign oil companies operating in Egypt recorded investments of about $8.1bn in the fiscal year 2016/2017, up from $6.6bn in the fiscal year 2015/2016.
These figures indicate an increase in investments by 22.7% during the 2016/2017 fiscal year, (...)
The Egyptian government has imposed restriction attempting to reduce those who benefit from the food subsidies for the future, for example the imposition of a limit of four members per family when a new card is issued.
According to the Ministry of (...)
Minister of Investment and International Cooperation Sahar Nasr said that the economic ministerial group headed by Prime Minister Sherif Ismail agreed on Monday to the by laws of the investment law.
The minister said during a press conference at the (...)
Stimulation of primary market and attracting new companies will be the top priorities for the new chairperson of the Egyptian Exchange (EGX), Mohamed Farid.
He told Daily News Egypt that he will work on improving the image of the stock market, since (...)