The six maritime ports in Egypt's Suez Canal economic zone are expected to generate revenues up to US$12 billion annually, after the completion of all the planned industrial and commercial projects there.
Ahmed Darwish – Head of the Suez Canal (...)
Egypt is offering an investment opportunity of at least $6 billion to 2018 in the renewable energy sector including wind and solar under the feed-in-tariff scheme, said EFG-Hermes ahead of the World Future Energy Summit (WFES).
WFES is taking place (...)
Egyptian Financial Group Hermes Holding is considering launch of a US$200 million renewable energy fund to spur wind and solar projects in Egypt and the Arab region, it said in a statement Sunday.
The firm further added that it led the acquisition (...)
EFG-Hermes, one of the Arab world's leading investment banks, said its leasing arm is capturing 4 percent share of the Egyptian leasing market, just after five months since it has been launched.
Founded in mid June this year, EFG-Hermes Leasing has (...)
Cairo asserts once again its plans not to seek a loan from the International Monetary Fund following some reports signalling a potential loan agreement to support the country's budget deficit.
Egyptian government is not seeking to obtain a loan from (...)
Egypt's budget deficit surged by 12.3 billion Egyptian pounds (US$1.5 billion) during the period from July to August of the fiscal year 2015/16, compared to the same period of time a year earlier.
The ministry said Wednesday in its monthly report (...)
Egyptian Ministry of Finance Hany Qadry is heading a delegation to attend the annual meetings of the International Monetary Fund (IMF) and World Bank (WB).
The meetings will take place in Lima, Peru on October 9-11, 2015.
Minister Qadry is set to (...)
The leading asset management firm, Rasmala Egypt is to launch a new investment fund for Banque Du Caire before the end of 2015, chairman Ahmed Aboul El-Saad announced Sunday.
The new fund will be with a capital of 100 million Egyptian pounds (...)
Egypt's Central Bank is to issue treasury bonds worth 6,5 billion Egyptian pounds (US$829,8 million), on behalf of the Ministry of Finance.
The bonds will be with maturities of a year and half, three and seven years, according to the central bank's (...)
Egypt's EFG-Hermes, one of the largest investment banks in the Middle East, announced Sunday that it had launched its wholly-owned subsidiary, EFG-Hermes Leasing.
With an initial capital worth 100 million Egyptian pounds (US$13.1 million), the new (...)
EFG Hermes, the Arab world's leading investment bank, announced it concluded today its successful advisory on Integrated Diagnostics Holdings Plc.'s (IDH) Initial Public Offering (IPO) on the London Stock Exchange ("LSE"), offering 43.5% of the (...)
Egypt's Orascom Construction (OC) said Thursday the Weitz Company,a wholly-owned subsidiary, has been selected to build the Iowa Events Center Hotel for a total project value of $101 million.
The project, which will be located in Des Moines, Iowa, (...)
Actis, a global pan-emerging markets private equity firm, is seeking to run and implement the Gebel El Zeit Wind Energy Project, regional director Sherif El Kholy announced Monday.
This comes after Actis had submitted on Sunday a bid to the Egyptian (...)
Egypt's Finance Minister Hani Qadry issued a decree appointing Abdel Moneim Mattar as the new chairman of the Egyptian Tax Authority (ETA) to replace Moustafa Abdel Qader.
Abdel Qader's replacement is owned to ending his tenure as he reached the (...)
Orascom Construction registers a volume of businesses under implementation worth US$5.6 million until September 2014, managing director Osama Bishai announced on Saturday.
During a press conference held on Saturday, Bishai stated that Orascom has (...)
There are neither taxes nor tariffs on any commodities exported by Egypt to other countries, the Egyptian Finance Ministry affirmed in a statement on Wednesday.
This comes following some media reports claiming a raise in tariffs on Egypt's exports (...)
The Arab Monetary Fund (AMF) will organise a training course in the development of Sukuk market.
According to a statement by the Egyptian Finance Ministry's Central Administration of Financial Researches and Administrative Development, the course (...)
Egypt's Orascom Telecom Media and Technology Holding has registered the highest volumes traded among other nine active firms listed in the country's stock exchange during last week's trading.
Ranked first, Orascom (OTMT.CA on EGX) recorded a total (...)
Egypt's financial service company Prime Holding plans by end of this month to complete the restructuring of Misr Italia Group ahead of starting an IPO scheme, chairman Mohamed Maher said.
According to Maher, the restructuring process is part of a (...)
Egypt's leading property developer Amer Group has signed an agreement with Saudi Al-Othaim Group to establish an entertainment city in Porto Cairo Mall, chairman Mansour Amer announced on Saturday.
The entertainment city will be with investment cost (...)
France-based SDMO Industries, the world's 3rd largest company for power generating sets, is targeting sales of €10 million for Egyptian market within 2015.
The targeted 2015 sales will be backed by Egypt's economic stability and the growing demand (...)
France-based SDMO Industries, the world's 3rd largest company for power generating sets, achieved €12 million worth of total sales in the Egyptian market during 2014.
In 2013, the French power manufacturer recorded total sales in Egypt of €3 (...)
Egypt's Ministry of Finance announces on Thursday plans to issue treasury bill and treasury bonds totalling EGP 214.5 billion (around US$30 billion) within second quarter of fiscal year 2014/2015.
This comes in comparison with what were offered (...)
Egypt's financial service company Prime Holding plans to complete a 20% share sale of Misr Italia on local bourse within first quarter of 2015, chairman Mohamed Maher announced.
Speaking to Amwal Al Ghad on Wednesday, Maher stated that Prime is (...)
Egypt's financial service company Prime Holding currently has total assets under management (AUM) of 3.5 billion Egyptian pounds (US$489.5 million), said vice chairman and CEO Mohamed Maher.
Speaking to Amwal Al Ghad on Monday, Maher stated that (...)