FINANCE & ECONOMY

18 Aug 2014

Tourism minister denies offering Egyptian citizenship for sale to foreign investors

Minister of Tourism Hisham Zazou has denied Sunday enacting programme to sell Egyptian citizenship to foreign investors to facilitate investments in the country.


Zaazou confirmed in a statement that he had received the project from an applicant but urged the applicant to first present his idea to the security,"......

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18 Aug 2014

3.7% rise in public sector employees in FY 2013/2014: CAPMAS

The total number of employees in the public sector increased by 3.7% this past fiscal year to reach 5.752 million, compared to 5.545 million in 2012/2013, according to the Central Agency for Public Mobilization and Statistics (CAPMAS).


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18 Aug 2014

ITIDA signs cooperation protocol with International Finance Corporation: Communications minister

The Information Technology Industry Development Agency (ITIDA) signed Sunday a cooperation protocol with the International Finance Corporation (IFC), a member of the World Bank Group, in order to strengthen the competitiveness of Egypt’s information technology sector workers.

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18 Aug 2014

Uganda, Egypt trade ties to increase as stability returns

Uganda’s ties with Egypt, one of its main export markets in the Common Market for East and Southern Africa (Comesa) region, are still slow despite the return of relative political stability.


However, experts"...

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18 Aug 2014

Jumia Egypt exemplifies the ecommerce business plan

Today's aggressive ecommerce model is often modeled off American values. But don't count Egypt out just yet. With an exploding ecommerce backbone and massive corporations like Jumia Egypt growing like a weed, it's easy to see why global markets are turning their heads towards Cairo, Alexandria and other major Egyptian markets in 2014.


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18 Aug 2014

Egypt's population to reach 87 million on Tuesday: Census

Egypt's population will hit 87 million on Tuesday, up by two million year-on-year and one million in the last six months, the country's census authority announced.


The Central Agency for Public Mobilisation and Statistics (CAPMAS) said in February that Egypt's total population had reached"......

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17 Aug 2014

Egypt bans Sudanese opposition meeting in Cairo

Egyptian authorities have prevented the opposition Sudanese Broad National Front (BNF) led by Ali Mahmoud Hassanein from holding its second general convention which was supposed to take place in Cairo on Saturday under the title of “unity of the opposition to overthrow the regime and"...

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17 Aug 2014

Russia And Egypt Talk Free Trade Zone

Egypt and the countries of the Customs Union are looking into creating a free trade zone, Russian President Vladimir Putin said after meeting with his Egyptian counterpart Abdel Fattah al-Sisi at the Black Sea city of Sochi.

“An important agreement was reached to establish cooperation between Egypt and the Customs Union [of Russia, Belarus and...

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17 Aug 2014

Egypt PM blames saboteurs for rising power cuts

Egypt's premier on Saturday partially blamed the country's worsening energy shortage -- with rolling blackouts of up to six hours in some Cairo neighborhoods -- on saboteurs seeking to undermine the government, a veiled reference to Islamist opponents.


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17 Aug 2014

Egypt tourism revenue drops by 24.7 pct

Egypt's tourism revenue dropped by 24.7 percent to around $3 billion in the first half of 2014, the Ministry of Tourism said in a statement.


Tourism has been hammered since the popular uprising that toppled autocrat Hosni Mubarak in 2011. It suffered another blow in February when a coach carrying Korean tourists"......

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