FINANCE & ECONOMY

11 Jun 2017

Lowest bid at Egypt tender $192.77/T for Russian wheat

The lowest offer at a purchase tender held by Egypt's state grain buyer GASC on Saturday was $192.77 per tonne free-on-board (fob) for 60,000 tonnes of Russian wheat, traders said.

Trading company GTCS made"...

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11 Jun 2017

Egypt negotiating €207 million financing from Germany during Sisi’s visit

Egypt will negotiate a €207 million ($231.7 million) financing from Germany during Egyptian President Abdel Fattah al-Sisi’s anticipated visit to the country next week.

The money will go for a number"...

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11 Jun 2017

Egypt pays $2.2 bln in arrears to foreign oil firms in three weeks

Egypt has paid $2.2 billion in arrears to international oil companies operating in the country during the past three weeks, leaving $2.3 billion remaining, the petroleum ministry said Thursday.

'We've"...

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11 Jun 2017

Egypt imposes tariffs on Chinese, Turkish, Ukrainian steel: trade ministry

Egypt has imposed temporary import tariffs on steel from China, Turkey, and Ukraine, the trade ministry said in a statement on Tuesday.

The tariff will be set at 17 percent for Chinese steel, 10-19 percent for"...

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11 Jun 2017

Egypt will not bring back fungus ban vows grain authority

Egypt will not reinstate a controversial ban on ergot, state-grain buyer GASC told Reuters on Saturday, despite a court ruling which could allow a return to the common grain fungus being barred entirely from wheat cargoes.

Traders"...

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11 Jun 2017

Nigeria pledges support for Egypt’s candidate for UNESCO top job

The Federal government has assured the Egyptian government of its support for the country’s candidate for the post of Director General of the United Nations Educational, Scientific and Cultural Organisation, UNESCO.

Egypt"...

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10 Jun 2017

Egypt is blocking access to news sites on an ‘unprecedented level’

The alert came in the form of a simple, late-night tweet by a prominent human rights activist.

“Looks like we've just been blocked in Egypt @MadaMasr,” wrote Egyptian activist Hossam Bahgat, a"...

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10 Jun 2017

Egypt’s Ministry of Environment Launches “Enough Plastic Bags” Initiative

The Minister of Environment Khaled Fahmy has launched a new national initiative called “Enough Plastic Bags” aiming at limiting the usage of plastic bags in Egypt.

The Ministry of Environment has inaugurated"...

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10 Jun 2017

Baghdad rejects Kurds’ move to press for independence unilaterally

The Iraqi government would reject any move by the Kurds’ regional authority to press unilaterally for independence, a government spokesperson said on Friday in Baghdad.

On"...

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10 Jun 2017

EBRD signs off on support for 750MW of Egyptian solar

The European Bank for Reconstruction and Development (EBRD) has approved US$500 million of financing for 750MW of PV projects in Egypt. In May, the EBRD considered 16 projects for approval with 13 getting the seal of approval on 7 June and the remaining three up for review later in the month. The projects are part of a wider 4GW renewable energy procurement scheme. “This is a major milestone in our support for renewable energy in Egypt,” said Harry Boyd-Carpenter, director, head of power and energy, EBRD. “We have been......

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