Egypt's cement industry is facing a large production surplus of more than 30m tonnes annually. At the same time, there has been a consecutive decrease in market demand for the last four years, between 2016 and 2020.
Cement market demand has further (...)
Minister of Trade and Industry Nevine Gamea has announced she is currently holding meetings with several export councils to formulate a new programme to support exports.
Gamea added, during her meeting on Saturday with the American Chamber of (...)
The level of confidence in the Egyptian economy is increasing, thanks to the clear vision of decision makers, according to Atiq Rehman, Head of EMEA Emerging Markets at Citigroup.
The country has been proactive in the measures it has taken to (...)
The Middle East might come out of the recession caused by the novel coronavirus (COVID-19) pandemic later than some other parts of the world. However, many regional economies will continue diversification efforts, according to David Livingstone, CEO (...)
The Europe, Middle East, and Africa (EMEA) region has taken a strong leadership position in technology and energy transition, according to Phil Drury, Head of BCMA in the EMEA region at Citigroup.
"We came into this crisis in a strong position as we (...)
American author and journalist, Thomas Friedman, said that US policy towards the Middle East will differ if the Democratic Party's presidential candidate, Joe Biden, wins the upcoming elections in November.
The comments by the New York Times (...)
Minister of Communication and Information Technology Amr Talaat has said his ministry is close to completing six technology parks in Minya, Menoufiya, Mansoura, Sohag, Qena, and Aswan.
He added that the technology parks will be opened after the end (...)
Like other countries worldwide, the Egyptian government has had to take significant steps to ensure that the country faces up to the economic impacts of the coronavirus (COVID-19) pandemic.
In an interview with Daily News Egypt, International (...)
Minister of Trade and Industry Nevine Gamea has extended the current fees imposed on Egypt's imports of iron billets and finished steel rebar to 11 October, according to a government source.
The iron billets and finished steel rebar import fees, (...)
Governments, particularly in developing countries such as Egypt, can take steps to protect their citizens from the impact of the ongoing coronavirus (COVID-19) pandemic, says Paolo Mauro, Deputy Director of the Fiscal Affairs Department at the (...)
A draft law is almost ready and will be transferred to the general session of the Plan and Budget Committee in the parliament for approval after one more debate session head of the Customs Authority El Sayed Negm said.
In the meeting -moderated by (...)
Dubai – George Matta, Chairperson of the Economic Committee of the Arab Iron and Steel Union, outlined seven challenges facing the iron industry in the Middle East and North Africa (MENA) region.
He told journalists on the sidelines of the Steel (...)
Dubai – Demand for steel in Egypt is expected to grow by 4% during 2020, driven by new projects, improvement in private consumption, and disposal of steel surplus accumulated in 2019 estimated at 700,000 tonnes, said George Matta, chairperson of the (...)
Citibank held a roundtable on Sunday to announce the winners of the Citi MENA Fintech Challenge. During this roundtable, the bank officials presented their vision of the Egyptian economy and their expectations of the bank's activities during the (...)
Citibank has been instrumental in managing the recent US dollar-bond offering by the Egyptian government over the past few days, in cooperation with investment banks BNP Paribas, JP Morgan, Standard Chartered, and Natixis, according to Mohamed Abdel (...)
Egypt's Sovereign Wealth Fund is currently in negotiations with three Gulf sovereign wealth funds to set up mutual funds, of which two might be announced before the end of this year, according to it's newly appointed CEO Ayman Soliman.
In a (...)
What are the types of sovereign wealth funds?
There are three types of sovereign funds. The first type is for profit. This is more prevalent in countries whose wealth depends on oil. For example, a country such as Kuwait, which has a small (...)
Mr. Ayman Mohamed Soliman brings 22 years of experience managing a group of 200+ companies spanning a diverse set of industries, with a global investment and transaction record of accomplishment, and a long-standing track record in managing complex (...)
Berlin– A delegation of major German automotive manufacturers will visit Cairo in December to discuss investment in the automotive and feeding industries sector, according to Managing Director of the German Association of the Automotive Industry (...)
Berlin –The Federation of Egyptian Industries (FEI) concluded its meetings on Wednesday, as part of a work visit that began on Monday to the German capital Berlin. The delegation met with representatives of the German Electrical and Electronic (...)
Berlin –A delegation from the Federation of Egyptian Industries (FEI) started a three-day visit to the German capital, Berlin, on Monday.
The delegation aims to review possible means of cooperation across different areas to support Egyptian industry (...)
Over the last decade, Dubai has seen strong growth within the tourism sector through its new attractions, landmarks, and shopping venues. In the first six months of the year, about 8.36 million tourists visited Dubai, and they are estimated to reach (...)
Dubai – The Department of Tourism and Commerce Marketing (DTCM), known as Dubai Tourism, hosted a high-level delegation last week that included representatives from the Alexandria Chamber of Commerce and executives from 26 major tourism companies in (...)
Dubai – About a year before its launch in October 2020, Dubai is in race against time to complete its preparations to host Expo 2020, for the first time in the Middle East and South Asia since it was first launched in Britain in 1851, under the (...)
Hesham Tawfik, Minister of Public Enterprise Sector, said that it is planned to offer Heliopolis Company for Housing & Development (HHD) on the Egyptian Exchange (EGX), within the first phase of the government's IPO programme, before the end of (...)