Oil prices on Wednesday regained a little ground lost in the previous session, weighed down by industry data suggesting United States crude inventories fell less than expected.
Brent crude futures gained 58 piasters to $64.93 per barrel, while West (...)
The Middle East and North Africa's (MENA) mergers and acquisitions (M&A) transactions reached an all-time high of $112bn in the first half (H1) of 2019, 231% more than the value recorded during year to date (YTD) 2018, according to the Refinitiv (...)
The Egyptian Foreign Ministry expressed concern over illegal drilling activities by Turkey in Cyprus' special economic zone, the ministry announced in a press statement on Tuesday.
"Turkish unilateral actions increase tension in the Easter (...)
Throughout the past four years, Egypt has been through tough, but necessary economic reforms, undertaken by the authorities and supported by the International Monetary Fund (IMF).
Consequently, since September 2016, authorities introduced the Value (...)
"The eyes of the world are turned to Africa," Egyptian President and African Union Chairperson Abdel Fattah Al-Sisi said on Sunday at the 12th Extraordinary Summit of the African Union in Niamey, Niger.
The summit witnessed the launch of African (...)
The Egyptian authorities decided to go ahead with slashing fuel subsidies on Friday, lifting petrol and diesel prices by about 25%. The price of a litre of octane 92 petrol increased to EGP 8, up from EGP 6.75. The price of octane 80 petrol and (...)
Eight security personnel and five terrorist elements were reportedly killed in the terrorist attack on security checkpoints in North Sinai's Al-Arish on the first day of Eid Al-Fitr celebration on Wednesday, the Ministry of Interior announced.
Egypt (...)
Bernhard Schulte Shipmanagement (BSM) said on Friday that its chemical tanker Kokuka Courageous, which was attacked in the Gulf of Oman on Thursday, is being towed toward Khor Fakkan, in the UAE, with its crew back onboard.
In a statement, the BSM (...)
In Egypt, cash is king, when it comes to different financial transaction. Out of the 100 million population, the World Bank estimates that just 10-15% have a bank account, which is considered to be one of the lowest global penetration rates. Over (...)
Social media giant Facebook Inc announced on Tuesday plans to launch a new cryptocurrency called Libra, scheduled for launch next year alongside the underlying blockchain-based network that will support it.
Unlike Bitcoin – which is a speculative (...)
Trump's son-in-law and senior advisor Jared Kushner on Tuesday described his plan for the Middle East as “the opportunity of the century” for the Palestinians, noting that their acceptance is a pre-condition to peace.
"We all agree on these goals, (...)
Singularity University located inside NASA Ames in California in the United States announced, during a media roundtable on Monday, that the number of participants reached 220 attendees in the “Global Impact Challenge” competition.
This competition (...)
The e-commerce market is expected to grow rapidly, on the back of Egypt's number of online users, giving the country the top rank in the Middle East and North Africa (MENA) region, in terms of users, according to Admitad, MENA's most recent (...)
The Egyptian Parliament approved on Monday the country's largest-ever budget of EGP 1.6tn for fiscal year (FY) 2019/20. The ambitious budget targets a total gross domestic product (GDP) of EGP 6.163tn ($355.91bn), and a GDP growth of 6%.
The new (...)
Trump's Middle East peace plan publicly known as the ‘deal of the century' will include $50bn in investments in the Palestinian Territories, Egypt, Jordan, and Lebanon in its first phase, said Donald Trump's senior advisor and son-in-law, Jared (...)
Trump's Middle East peace plan publicly known as the ‘deal of the century' will include $50bn in investments in the Palestinian Territories, Egypt, Jordan, and Lebanon in its first phase, said Donald Trump's senior advisor and son-in-law, Jared (...)
The Minister of Petroleum, Tarek El-Molla, held meetings on Wednesday with several oil and gas executives including Total's CEO, Patrick Boyan, and Axens's CEO, Jean Sentenac, to discuss increasing their investment in Egypt, during his visit to (...)
Egypt's Consumer Price Index (CPI) issued by the Central Agency for Public Mobilisation and Statistics (CAPMAS) said that the annual inflation rate for May rose slightly to 14.1%, compared to 13.1% in April year-over-year (y-o-y), while monthly (...)
The International Monetary Fund (IMF) will remain involved in Egypt through its reform process, through a non-funded line such as a Precautionary and Liquidity Line (PLL) or a stand-by arrangement, which would be a comfort to investors, according to (...)
Helios Investment Partners (Helios), a leading Africa-focused private investment firm, and the Egyptian-American Enterprise Fund (EAEF) have acquired 96.7% of Misr Hytech Seed International (Misr Hytech) on Monday.
Misr Hytech is a leading breeder (...)
Singularity University, located inside NASA Ames in California in the USA, announced the launch of the Global Impact Challenge (GIC) for the first time in the Middle East and North Africa in July 2019 in Egypt's El Gouna.
According to the official (...)
The Egyptian bus booking startup Swvl has announced the signing of a strategic partnership agreement with Ford under which Ford Transit will become the preferred small bus for all Swvl lines, both companies announced on Sunday.
The Memorandum of (...)
Ramadan is known for producing many advertisement campaigns for many brands.
Being a spiritual month, many NGOs, hospitals, and charity organisations that rely on donations exploit Ramadan to attract more people to donate through advertising.
During (...)
Egypt's Minister of Electricity Mohamed Shaker revealed the new electricity prices, with an average increase of 14.9% to be implemented starting from next fiscal year (FY) during a press conference on Tuesday. The increase in the value of the (...)
Egypt's President Abdel Fattah Al-Sisi received David Stover, chairperson and CEO of Noble Energy, a US-based natural gas exploration and production giant, on Monday, to discuss increasing the company's activities in Egypt.
The meeting was attended (...)
