US economy contracts in Q1 '25    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    EGP closes high vs. USD on Wednesday    Germany's regional inflation ticks up in April    Taiwan GDP surges on tech demand    Germany among EU's priciest labour markets – official data    UNFPA Egypt, Bayer sign agreement to promote reproductive health    Egypt to boost marine protection with new tech partnership    Eygpt's El-Sherbiny directs new cities to brace for adverse weather    CBE governor meets Beijing delegation to discuss economic, financial cooperation    Egypt's investment authority GAFI hosts forum with China to link business, innovation leaders    Cabinet approves establishment of national medical tourism council to boost healthcare sector    Egypt's Gypto Pharma, US Dawa Pharmaceuticals sign strategic alliance    Egypt's Foreign Minister calls new Somali counterpart, reaffirms support    "5,000 Years of Civilizational Dialogue" theme for Korea-Egypt 30th anniversary event    Egypt's Al-Sisi, Angola's Lourenço discuss ties, African security in Cairo talks    Egypt's Al-Mashat urges lower borrowing costs, more debt swaps at UN forum    Two new recycling projects launched in Egypt with EGP 1.7bn investment    Egypt's ambassador to Palestine congratulates Al-Sheikh on new senior state role    Egypt pleads before ICJ over Israel's obligations in occupied Palestine    Sudan conflict, bilateral ties dominate talks between Al-Sisi, Al-Burhan in Cairo    Cairo's Madinaty and Katameya Dunes Golf Courses set to host 2025 Pan Arab Golf Championship from May 7-10    Egypt's Ministry of Health launches trachoma elimination campaign in 7 governorates    EHA explores strategic partnership with Türkiye's Modest Group    Between Women Filmmakers' Caravan opens 5th round of Film Consultancy Programme for Arab filmmakers    Fourth Cairo Photo Week set for May, expanding across 14 Downtown locations    Egypt's PM follows up on Julius Nyerere dam project in Tanzania    Ancient military commander's tomb unearthed in Ismailia    Egypt's FM inspects Julius Nyerere Dam project in Tanzania    Egypt's FM praises ties with Tanzania    Egypt to host global celebration for Grand Egyptian Museum opening on July 3    Ancient Egyptian royal tomb unearthed in Sohag    Egypt hosts World Aquatics Open Water Swimming World Cup in Somabay for 3rd consecutive year    Egyptian Minister praises Nile Basin consultations, voices GERD concerns    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    

Articles of the author Waad Ahmed
Egyptian petroleum companies to raise LE8.5 bn in capital: Bourse head
Three of Egypt's state-owned petroleum companies plan Initial Public Offerings (IPOs) worth more than LE8.5 billion, Mohamed Omran, the head of the bourse, announced on Tuesday. The joint stock company, Middle East Oil Refinery (MIDOR) plans to (...)

07 - 04 - 2015
Egyptian stocks plunge 4.6% on global losses
Egypt's benchmark index dipped 4.62 percent by midday to record 8,816 points, with daily stock turnover reaching LE386 million. “Funds made losses as the drop in oil prices pulled down regional and global markets,” Mohamed Radwan, head of equities (...)

14 - 12 - 2014
Egypt market sinks 5% as foreigners revaluate investments on global losses
Egypt's market tumbled on Sunday as foreigners and Arab investors exited the market following global and regional losses, analysts said. Benchmark index, EGX30, dipped 5.23 percent to record 8,715 points, the lowest value in a month and a half. (...)

14 - 12 - 2014
New grain storage system to save Egypt 'LE1 bn per year'
Egypt, the world's largest wheat importer, will develop a new grain storage system which it hopes will reduce by a quarter the amount of wheat wasted annually, Supply Minister Khaled Hanafy has announced. The agreement with Blumberg Grain is to (...)

04 - 12 - 2014
Egypt signs MOU with Italcementi to build $200m wind farm
Italian cement maker Italcementi signed an MOU with the Egyptian government to build a wind farm on the Red Sea, part of the country's effort to mitigate its power shortages through renewable energy. The company will build a facility to generate 120 (...)

25 - 11 - 2014
Orascom Construction to develop coal-fired power station
Orascom Construction, a subsidiary of Dutch-based OCI N.V., will build a coal-fired power station on the Red Sea coast in partnership with Emirati-based International Petroleum Investment Company (IPIC), the company announced on Wednesday. Egypt has (...)

05 - 11 - 2014
Centamin lowers production forecast for its Egypt's Sukari mine
Gold producer Centamin plc cut its production forecast for Egypt based Sukari mine by around 10.5 percent due to lower productivity in October and lower grade of ore, the company announced on Wednesday. Sukari mine, Centamin's company's flagship (...)

05 - 11 - 2014
BREAKING: OCI wins tax case
The independent appeals committee for Egypt's Tax authority has ruled in favour of Orascom Constructions industries in the Lafarge tax dispute case, the company announced on Tuesday. "All other previous preliminary rulings related to the tax dispute (...)

04 - 11 - 2014
Egypt's Ezz Dekheila steel profits dip 94% in Q3
Ezz Dekheila steel posted net profits of LE55.6 million in the third quarter of 2014, a 94 percent drop from LE962 million seen in the same period last year, the company said in a statement to Egypt's stock exchange on Tuesday. Revenues for Egypt's (...)

28 - 10 - 2014
Egypt imposes temporary tariffs on steel imports
Egypt has imposed a temporary 7.3 percent tariff on steel imports, Industry Minister Mounir Fakhry announced. The move is in response to a petition filed by domestic steel producers in June to warn of rising imports of cheaper steel. "When we filed (...)

15 - 10 - 2014
Egypt to receive $5bn in loans from UAE and Saudi Arabia: Source
Saudi Arabia and the United Arab Emirates will deposit LE35 billion ($5 billion) in the Central Bank of Egypt in two installments starting this month, a source familiar with the matter told Ahram Online on Monday. The sums will be loaned to Egypt on (...)

13 - 10 - 2014
Egypt launches citizen's budget to improve transparency
Egypt launched a citizen's budget for the second time in its history according to finance minister, Hany Qadry, who spoke at a press conference on Wednesday. The document, a simplified version of the state's official budget, is meant to increase (...)

01 - 10 - 2014
Egypt sees most tourists in 3 years in August: Minister
Egypt saw a significant rise in the number of tourists visiting the country in August, the most in the last three years, the country's Tourism Minister Hisham Zaazou said at the Al-Mal GTM money and finance conference on Tuesday. Tourists' numbers (...)

30 - 09 - 2014
Suez Canal certificate sales inject LE27 bn into Egypt's banks: CBE governor
Investment certificates issued earlier this month to finance the digging of a new Suez Canal have attracted LE27 billion ($3.8 billion) of fresh cash to the Egyptian banking system, announced the central bank's governor, Hisham Ramez, on Sunday. The (...)

21 - 09 - 2014
Egypt needs at least $28 billion in private sector investments: Minister
Egypt will need private sector investments of at least LE200 billion ($28.57 billion) if it is to achieve itsgrowth target of 3.5 percent by the end of the current fiscal year, investment minister Ashraf Salman said on Monday. Political turmoil had (...)

15 - 09 - 2014
IDB approves $425 mn loan to Egypt
The Islamic Development Bank (IDB) has revealed the repayment schedule for two loans to Egypt worth $425 million. The loans are to be repaid at 1.05 percent above Libor in installments every six months after the completion of the project,Aboubakr (...)

08 - 09 - 2014
Egypt cooperates with WTO to save Bali trade agreement
Egypt says it is working towards providing a compromise deal to save last year's WTO Bali agreement, which has stalled since India opposed the deal on the basis of food security concerns, announced Mounir Fakhry, minister of trade, industry and (...)

02 - 09 - 2014
Egyptian govt, activists fail to see eye-to-eye on labour law reform
Egypt's manpower ministry and many labour activists agree that the country's labour legislation is inadequate and needs reform. But the reforms included by government officials in a draft version of a new law do not go far enough, activists say, and (...)

30 - 08 - 2014
Saudi CPC acquires Egypt's Sphinx Glass for $180 mn
Saudi Construction Products Holding Company (CPC) has acquired Sphinx Glass from Egyptian private equity firm Qalaa capital (formerly known as Citadel Capital) in a deal worth LE1.3 billion (roughly $180 million), the signatories announced at a (...)

27 - 08 - 2014
Share prices for new Suez Canal project can't be varied: EFSA
A scheme to finance a new waterway alongside the Suez Canal by offering staggered shares for Egyptians is not possible, according to the state's financial regulator. On Sunday, Egypt's president Abdel-Fattah El-Sisi announced plans to dig a new (...)

06 - 08 - 2014
Egypt government to raise sugar production
Egypt's government plans to raise its sugar production to two million tonnes from 1.1 million tonnes to meet the required quantities of subsidised sugar, reported the state-run Al-Ahram daily newspaper on Sunday. Khaled Hanafy, the minister of (...)

04 - 08 - 2014
Egypt's new subsidy system tackles bread consumption
Egypt has rolled out a series of reforms to its decades-old bread subsidy system in the hopes that it will reduce the nation's bread consumption and minimise corruption. The new smart-card system, which entitles card owners to a fixed ration of five (...)

14 - 07 - 2014
Fawry initiates Egypt's first financial inclusion conference
Egypt's leading electronic payment provider, Fawry, opened the country's first financial inclusion conference on Tuesday, sponsored by the International Finance Corporation (IFC) and MasterCard. Speakers at the conference tackled the exclusiveness (...)

18 - 06 - 2014
Rental values for Egypt's mines to increase by 20,000%
Egypt's Mineral Resources Authority (EMRA) has submitted a draft law to the petroleum ministry which, if approved, will raise the rental value for mines by nearly a whopping 20,000 percent. Once the draft law gets the green light from the Egyptian (...)

03 - 06 - 2014
Transparency International urges Egypt's presidential candidates to fight corruption
International anti-corruption organisation Transparency International (TI) has called on Egypt's presidential candidates to commit to fighting corruption through well defined programmes. “They (Egypt's presidential candidates) must make a genuine, (...)

04 - 05 - 2014
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