CAIRO: The best micro projects of 2010 were celebrated by Citi Foundation and Sanabel in an awards ceremony to highlight the accomplishments of 20 entrepreneurs.
“We're here today to celebrate winners,” said Aftab Ahmed, Citi country officer for (...)
CAIRO: Minister of Finance Samir Radwan raised the forecast for Egypt's budget deficit to 9.1 percent of gross domestic product (GDP) for fiscal year 2011/12, from a previous 8.5 percent.
Before the recent uprising that ousted former president (...)
While lending activity by Egyptian banks intensified over the past few years, it's debatable whether this upward trend will continue or reverse in the near future.
According to a report published in February by RNCOS, a market research and (...)
CAIRO: “The Central Bank has a responsibility and the banking sector has a role, both need to discuss and figure out how to move forward and make progress,” says Mona Abdel Baki, a banking expert and assistant professor of economics at the American (...)
CAIRO: Egypt's gross domestic product could possibly slow down to 2 percent this year, Yasser El Mallawany, co-chief executive officer of EFG-Hermes Holding, told Bloomberg.
EFG-Hermes Holding is one of Egypt's top investment banks based in (...)
CAIRO: Egyptian and Bahraini equities have the least optimistic outlook in the region, according to a recent survey of Chartered Financial Analysts (CFA).
Amid political waves and economic turbulence seeping through the Middle East, equities are (...)
CAIRO: Egyptian carmaker GB Auto will build five new service centers in the country, officials told Daily News Egypt.
“The biggest center will be on the Cairo-Ismailia Desert Road then also in Alexandria, the Ring Road, Assuit and Suez,” (...)
CAIRO: The number of mobile subscribers in Egypt reached 70.66 million in December 2010, up from 55.232 million in December 2009, according to figures released by the Information and Decision Support Center.
This is an increase of about 27.7 (...)
CAIRO: Egypt's Ministry of Trade and Industry has postponed a proposed local automotive incentive program until further notice.
“This strategy was aimed at supporting and increasing the market auto feeding industry,” said Ahmed Abdel Ghani, a (...)
CAIRO: With Egypt's stock market closed since Jan. 27, some are relying on the performance of global depository receipts (GDR) as indicators of sentiment towards the country's market.
Four GDRs that are present in the London market are Orascom (...)
CAIRO: “There has never been a better time in Egyptian history than now, at least not since 1952,” said Ossama Hassanein, senior managing director of Newbury Ventures.
He told Daily News Egypt that the most important thing entrepreneurs and youth (...)
CAIRO: According to a recent survey, 52 percent of respondents in the Middle East say they are averagely satisfied with their remuneration.
The survey, conducted by top job site Bayt.com in combination with research specialists YouGov Siraj, also (...)
CAIRO: Intel Corporation, through its business entity Intel Mobile Communications, acquired most of the assets of SySDSoft, a privately-held software company based in Cairo.
“We would like to emphasize Intel's commitment to Egypt, especially in (...)
CAIRO: “We're trying to get NGOs, companies, volunteers, donors and everyone together in one place so we can all sit and talk and brainstorm together to figure out how to develop and speed up the recovery of the country and have better cooperation,” (...)
CAIRO: Palm Hills Development Chairman and CEO Yasseen Mansour has offered to pay LE 272 million as a “compensation for lost revenue” in the case brought against the firm charging officials with squandering public funds in a land deal. (...)
CAIRO: Egypt's net foreign reserves plunged by $1.69 billion in February, their biggest one-month decline in over a decade as political turmoil drove capital out of the country and put pressure on its currency.
The central bank played down the (...)
CAIRO: Egypt's unemployment rate reached 8.92 percent during the second quarter of the current fiscal year, down slightly from 8.94 percent the previous quarter, official figures show.
According to the Central Agency for Public Mobilization And (...)
CAIRO: Commercial International Bank's global depositary receipts (GDRs) dropped 15 percent in London last week, reaching their lowest level since July.
“CIB has the largest tradable free float and so will also reflect the ups and downs of (...)
Gold prices have risen to a close all time high amidst political change in Egypt and unrest throughout the Middle East and North Africa region.
The price of the precious metal has risen almost 10 percent in the last month and reached $1,437.70 per (...)
CAIRO: At least four infrastructure projects may have their bid submission deadline extended in Egypt due to the current situation in the country.
The Egyptian government, under the Public Private Partnership (PPP) unit, is pondering the (...)
CAIRO: The National Council of Youth has partnered with the Social Fund for Development (SFD) to provide loan facilities for those looking to launch small and medium enterprises.
The main objective the two organizations have through the (...)
CAIRO: “Greek investments are here to stay and are not going anywhere,” Greek Ambassador to Egypt Chris Lazaris said.
“All projects that were planned before the recent events are still going forward as planned,” he told Daily News Egypt, (...)
CAIRO: While operations never shut down for the call centers of Xceed, according to CEO Adel Danish, the company “operated on a smaller scale” and not all accounts were active and running.
Xceed is a homegrown multi-lingual Business Process (...)
CAIRO: While generally the global growth has resumed, it is uneven across and within countries, according to the International Monetary Fund.
While speaking after meeting with finance ministers and central bank governors from the world's leading (...)
CAIRO: The General Prosecutor ordered on Monday the detention of the head of the Industrial Development Authority Amr Assal for 15 days pending investigation in chargers of squandering public funds.
According to state-run daily Al-Ahram, Assal is (...)