With bilateral relations between Cairo and Moscow seeing a closeness that brings to mind their Nasserist-era courtship, the visit of Russian President Vladimir Putin saw a number of important economic cooperation deals.
Topping the list is an (...)
An ambitious plan to dig a new canal parallel to the Suez Canal and to widen parts of the existing waterway has stirred mixed reactions in Egypt.
Last week, President Abdel-Fattah Al-Sisi caught people by surprise when he announced the development (...)
As Essam, a 34-year-old computer programmer, started to calculate the substantial increases in his daily expenses as a result of the rises in the prices of fuel and cigarettes, he said that he did not expect the price hikes to stop at (...)
As part of a plan to phase out electricity subsidies over a five-year period, the government last week introduced a new pricing structure that will see electricity tariffs almost doubling.
Mohamed Shaker, the Minister of Electricity, announced the (...)
Forbes Middle East announced its list of the top 500 companies in the Arab world last week from publicly-listed companies on stock exchanges across the Middle East.
Companies from the Gulf topped the list, where the top ten positions were occupied (...)
Egypt's balance of payments recorded an overall surplus of $2.2 billion during the period from July to March 2013/2014, compared to a $2.1 billion deficit during the same period a year earlier, according to an official statement issued by the (...)
The Committee for International Labour Standards, a committee of the International Labour Organisation (ILO), has said that it will not now include Egypt in its list of countries violating international labour conventions and recommendations, known (...)
Earlier this week, the Administrative Court postponed consideration of a lawsuit filed to challenge the government's decision to adopt coal as an energy source for the country's cement plants to 7 June.
The suit had been filed by a number of NGOs (...)
The Egyptian pound hit a new low last week, when it saw the biggest plunge in its exchange rate against the dollar in months on the official market.
The decline came after an exceptional tender had been made to sell dollars to banks in order to pay (...)
Egypt's newly approved investment law restricts the capacity of third parties to challenge contractual agreements between the government and investors. It also enables the dismissal of Administrative Court rulings retroactively and the possible (...)
Days after the government announced plans to increase electricity and gas prices, the Holding Company for Water and Waste Water (HCWW) stated that potable water prices will also witness an imminent rise.
A spokesperson for the HCWW told the press (...)
With an estimated annual population growth of 1.45 million people, over 300,000 of them in Greater Cairo alone, urbanisation is one of Egypt's major problems.
Thus far, the state has taken different approaches to helping citizens, especially the (...)
Minister of Manpower and Immigration Nahed Ashri announced earlier this week that the country's new labour law will soon be presented to Prime Minister Ibrahim Mehleb for approval.
Ashri explained that the legislative committee responsible for the (...)
Egypt has taken different approaches to helping the underprivileged gain access to affordable housing. These have varied from direct provision in the form of affordable housing units to offering land plots together with access to the credit needed (...)
With the increasing pressure of a chronic energy crisis and a growing shortage in the natural gas supply, importing coal as an alternative source of energy has been debated for months now.
Regardless of Minister of Industry and Investment Mounir (...)
With the number of cases filed against Egypt for international arbitration rising, the government has been trying to avoid the potentially huge bills that could result from this situation.
Alarmed by the number of cases filed and trying hard to (...)
Although the Central Bank of Egypt (CBE) has taken a variety of measures to bolster the Egyptian pound against the US dollar and to combat the black market, the illegal trade continues to flourish.
The Egyptian exchange market witnessed a slight (...)
During times of recession, making money out of publishing books is not easy. Publishers are forced to change their ways, and they need to develop new strategies to sell their wares.
E-books, digital bookstores and even digital publishing are all (...)
Egypt's Customs Authority has circulated instructions to the country's port authorities to prohibit the release of any fully manufactured three-wheeler vehicles, tuk-tuks or motorcycles, and to halt the import of their components.
Acting on (...)
The performance of Egypt's ports is nearly equivalent to that of foreign ports, according to maritime transport experts, and though the political instability has affected companies operating in the maritime market, this has not led any of these to (...)
In an attempt to placate the anger of thousands of textile-sector workers the economic committee of the cabinet approved during its meeting yesterday chaired by Prime Minister Hazem Al-Biblawi to pay the last batch of bonuses to the workers at an (...)
On the first day of the Cairo International Book Fair, which opened this week, the exhibition grounds were full of people coming and going carrying bags full of all kinds of books. At the Al-Shorouk Books Hall, some girls were inspecting the books (...)
The government announced this week that 14 international firms had met the tender specifications for the Suez Canal region development project and that they could now make their bids over a three-month period after which the selected firm would be (...)
Egypt's balance of payments registered an overall surplus of $3.7 billion during the first quarter of fiscal year 2013/14, against a deficit of $518.7 million during the same period a year earlier.
The balance of payments record the country's (...)
‘Political instability has an impact on the composition of the investments and usually attracts the kind of FDI that doesn't create jobs or boost growth'
— Shantayanan Devarajan
As the country remains politically divided and struggles with slow (...)