FINANCE & ECONOMY

12 Apr 2017

Egypt's trade deficit down 37% year-on-year in Jan: CAPMAS

Egypt's trade deficit dropped 37.1 percent in January compared to the same month in 2016, reaching $2.34 billion, the state statistics body CAPMAS announced on Tuesday. In an e-mailed statement, CAPMAS showed that exports increased by 27.1 percent year-on-year in January, to reach $1.82 billion, led by crude oil, fertilizers and orange exports. Imports for the same month slowed by 19.3 percent compared to January 2016, to reach $4.16 billion due to the drop in the imports of wheat, passenger cars, and steel and iron raw materials.......

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12 Apr 2017

Dubai infrastructure investment firm in talks for Cairo project

United World Infrastructure (UWI), a Dubai and Washington D.C.-based infrastructure investment and development company, is in talks to develop a new economic cluster in Egypt with an approximate total investment of more than $500 million, a company executive said.

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12 Apr 2017

123 companies used to evade taxes through faking bills: Taxes Authority

The Public Taxes Authority discovered that more than 123 companies are evading taxes through faking their bills, said PTA's chairperson Emad Samy.

" Minister of Finance approved the appropriation of EGP600mn to develop the PTA's premises," added Samy in a symposium"...

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11 Apr 2017

ABB Names Chun-Yuan Gu President, AMEA, and Frank Duggan President, Europe

ABB today announced that Chun-Yuan Gu, Managing Director of ABB China, will become President of the AMEA region. He takes over from Frank Duggan, who has been appointed President of Europe, succeeding Bernhard Jucker, whose retirement was announced earlier. As members of the ABB Executive"...

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11 Apr 2017

Andersen Tax & Legal Debuts in Italy

Andersen Tax & Legal debuts in Italy with the Italian member firm of Andersen Global, Noda Studio, formally adopting the Andersen name. They will operate as Andersen Tax & Legal and are the third member firm to assume the Andersen name in Europe. Andersen Tax & Legal debuted in Spain"...

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11 Apr 2017

Egypt reshapes Zambian joint business council board

Egypt’s Minister of Industry and Trade Tarek Qabil announced Monday a board revamp of the Egyptian side of the Egyptian-Zambian Business Council.

According to the recent revamp, Ahmed El Sewedy, chief executive"...

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11 Apr 2017

Badr University opens first private college for theatre and film in Egypt and Middle East

Hassan Al-Qala, chairperson of the board of trustees at Badr University, announced the launch of the Theater and Film College at Badr University, which will start work at the beginning of the new school year. The college will be the first private Theater and Film College in Egypt and the Middle East, and it brings together all kinds of expressive arts.

According"...

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11 Apr 2017

ICCI delegation returns from Egypt

A delegation of Islamabad Chamber of Commerce and Industry (ICCI) led by its President Khalid Iqbal Malik returned after a successful visit to Egypt. Founder Group Chairman Khalid Javed, Zafar Bakhtawari, Zahid Maqbool, Ch. Waheed ud Din, Naeem Siddiqui and Fatima Azeem were in the delegation.

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11 Apr 2017

Egypt's urban consumer price inflation picks up to 30.9 pct in March

Egypt's urban consumer price inflation rose for the fifth consecutive month in March, reaching an annual 30.9 percent, its highest point in more than three decades.

Egypt abandoned its currency peg of 8.8 to the U.S. dollar on Nov. 3 in a move that has since seen the currency depreciate roughly by half, driving up the price of imports. The pound has...

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11 Apr 2017

ALEXBANK, ILO & SFSD sign MoU to provide job opportunities in rural areas

As part of a fruitful cooperation among parties concerned with sustainable development, ALEXBANK, Professional Development Foundation (PDF), Sawiris Foundation for Social Development (SFSD) and International Labor Organization (ILO) signed a Memorandum of Understanding (MoU) to launch"...

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