FINANCE & ECONOMY

20 Dec 2014

Sources: Moscow, Beijing compete for nuclear plant

Official sources said Egypt has received offers from Russia and China for the tender of the Dabaa nuclear power plant, which the government is reviewing among other offers from the United States and Europe.


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20 Dec 2014

Traders: Egypt's EGAS has tendered for at least 48 LNG cargoes

Egypt's state-owned gas company EGAS has tendered to buy at least 48 cargoes of liquefied natural gas (LNG) for delivery in 2015/16, three traders said.

A senior official at EGAS confirmed that there was a tender for multiple LNG cargoes during Egypt's 2015/16 financial year, which"...

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20 Dec 2014

New US ambassador arrives in Egypt after 16 month vacancy

Robert Stephen Beecroft, the new US ambassador, arrived to Cairo International Airport’s VIP lounge on Thursday on board a German airliner coming from Frankfurt. He was greeted by US Embassy personnel.


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20 Dec 2014

Sisi stresses Egypt's right to Nile water

President Abdel Fattah El Sisi has highlighted Egypt's right to the Nile water. During a meeting Thursday at the Presidential Palace with members of the Ethiopian People’s Diplomatic Delegation, which groups prominent academicians, former ambassadors, religious leaders, artists, journalists and other prominent personalities, Sisi asked the Ethiopian delegation...

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20 Dec 2014

India, Egypt review bilateral ties, agree to boost trade

India and Egypt held their 10th round of Foreign Office Consultations in Cairo last week during which both sides discussed and reviewed the entire gamut of bilateral relations and also exchanged views on regional and global issues of mutual interest.


During"...

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20 Dec 2014

Fitch raises Egypt's credit rating to 'B'

Fitch Ratings upgraded Egypt's credit rating one rank to "B" with a "stable" outlook Friday, saying the authorities seemed committed to major reforms.


"Fuel subsidy cuts and tax hikes have been implemented as part of a clear five-year fiscal consolidation strategy," Fitch said in upgrading Egypt from a "B-" rating.

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20 Dec 2014

Oriental Weavers to expand in Egypt

Oriental Weavers Group, one of the world’s largest machine-made carpet, rug and related raw materials producers, has announced bold investments for 2015. Its products and staff have delivered consistent and sustainable performance for both existing customers and a growing roster of new ones. Oriental Weavers was able to deploy and expand its production...

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20 Dec 2014

Egypt's GASC seeks wheat for Jan. 21-31 shipment

Egypt's General Authority for Supply Commodities (GASC) set a tender on Friday to buy an unspecified amount of wheat from global suppliers for shipment from Jan. 21 to Jan. 31, 2015.


Mamdouh"...

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20 Dec 2014

Egypt Requests France to Remove Statue

Egypt has requested French authorities to pull down a statue in Paris showing French Egyptologist Jean Francois Champollion putting his foot on a pharaonic head.


"A letter has been sent to the French authorities to remove this statue and I'm confident that the French authorities will positively respond to the request,""......

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20 Dec 2014

Egypt cracks down on vocal foreign critic

Michele Dunne, a former US diplomat and a senior analyst at a think-tank, was detained on arrival in Cairo and deported the next day.


A prominent political analyst from the United States was denied entry to Egypt and deported, in an escalation of a crackdown on political opposition, interpreted as a warning"......

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