FINANCE & ECONOMY

26 Nov 2014

Mobinil may reject Egypt’s landline licence: CEO

Egyptian mobile telecoms firm Mobinil said yesterday it might reject the government’s offer of a landline services licence, aimed at boosting competition in the telecoms market, unless it is allowed to build its own fixed-line infrastructure.

The government approved in September a new unified licensing which would allow the state fixed-lined monopoly...

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26 Nov 2014

Gas pipeline to Egypt now being looked at

Nicosia and Cairo agreed on Tuesday to speed up talks for exporting Cypriot gas to Egypt as the island appeared to switch track from onshore LNG to pipelines.

Egypt can receive as much gas quantities as Cyprus can export, Egypt’s petroleum minister Sherif Ismail told reporters in Nicosia.

Τhe gas could also be processed so that it can...

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26 Nov 2014

Al-Futtaim to invest $700 mn in Egypt after dispute settled

Dubai-based conglomerate Al-Futtaim Group said on Tuesday it would invest US$700 million in Egypt over three years and pay the government $30.5 million as part of a settlement reached last week over a long-standing land sale dispute. Mohamed al-Makkawi, Al-Futtaim's Egypt CEO, told reporters the investments would be directed towards new projects in a second...

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26 Nov 2014

Egypt signs MOU with Italcementi to build $200m wind farm

Facility will generate 120 Mw of energy, with production beginning in late 2015.

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.

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26 Nov 2014

Paul Smith Reveals His Latest Endeavor – A Furniture Collection!

Three experts combined their professions and love of aesthetics within the fashion, interior design, and textile industry to collaborate on a unique capsule. The furniture collection was showcased for the first time in the Middle East at the Kvadrat Maharam showroom in Dubai.

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26 Nov 2014

Optimus and Huawei to Host Their Next Channel Partners Meet in Bahrain

The Leading Value Added Distributors of Telecommunications and ICT solutions Optimus Technology and Telecom will be teaming up with Huawei on 25th and 26th November 2014 to host their touring channel partner’s meet at the Elite Grande Hotel in Bahrain.


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26 Nov 2014

Egypt central bank seen keeping rates on hold amid nascent recovery


Egypt's central bank is expected to keep interest rates on hold on Thursday as inflationary pressure continues to ease and policymakers seek to avoid stifling a nascent economic recovery in the most populous"...

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26 Nov 2014

Egypt needs more flexible exchange rate, IMF says


Egypt would benefit from a more flexible currency regime that would help the country attract investment and tourists and create jobs, the International Monetary Fund said.


“A more flexible exchange rate policy focused"......

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26 Nov 2014

Egypt and UN to expand food aid in fight against child labour

The World Food Programme pledged on Tuesday to expand an aid programme in Egypt that helps poor families keep their children in school and out of the workforce.

The programme, aimed at combating child labour, currently assists more than 100,000 children and some 400,000 family members, but it remains unclear how many new participants will join them following...

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26 Nov 2014

Agricultural land allocation law to be ratified within two weeks: Industry minister

Minister of Industry and Trade Mounir Fakhry Abdel Nour said that in two weeks President Abdel Fattah Al-Sisi will ratify a law allowing the General Authority For Reconstruction Projects and Agricultural Development to allocate agricultural lands through direct order as part of government"...

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