FINANCE & ECONOMY

09 Mar 2017

UAE's Union National Bank to open China branch, expand in Egypt: CEO

Union National Bank , 50 percent owned by the Abu Dhabi government, will open its first branch in China next month, its chief executive said, as Gulf banks expand in the world's second biggest economy.

Union National has got approval from China's central bank to convert its representative office into a branch in Shanghai, ...

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09 Mar 2017

30% of EBRD-financed projects are carried out by public sector firms

Nearly 30% of projects financed by European Bank for Reconstruction and Development are carried out by the Egyptian Public sector, said EBRD's deputy president Katrin Hans.

' EBRD prepares studies to boost utilities' sustainable development, focus on the social dimension of the environmental issues and boost...

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09 Mar 2017

50% increase in foreign inflow to archaeological sites

The foreign inflow of tourists visiting archaeological sites and the provinces of Upper Egypt increased over the recent period, where hotel occupancy rates hit 25% in Luxor and 57% in Aswan.

Alaa El-Shahat, head of the Administrative Centre for Antiquities in Cairo and Giza, said that the"...

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09 Mar 2017

Artelia, ÅF win tender for water storage and pump in Ataqa

An alliance between Artelia and ÅF won the tender to consult on the Ataqa water storage and pumping project.

Sources at the Ministry of Electricity told Daily News Egypt that the alliance will sign the contract for consulting tasks within two weeks.

The"...

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09 Mar 2017

Egyptian economy to improve in 2017’s initial months: FocusEconomics

The Egyptian economy is expected to witness fair, though slow, improvements during the first months of 2017, accompanied by a general state of stability, according to the March 2017 “FocusEconomics Consensus Forecast” report for the Middle East and North Africa region.

The expected"...

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09 Mar 2017

Egypt ranks third in Africa in Facebook’s internet universality report

Communication through internet provides economic opportunities and allows free exchange of data and information. It also provides tools to overcome a number of international challenges, including provision of education and health services, providing clean water sources, and increasing the efficiency in energy usage, as well as increasing the government’s...

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09 Mar 2017

Dubai outperforms in weak Gulf; Egypt climbs

Gulf stock markets were weak on Wednesday as another slide in Doha Bank pulled down Qatar, but Dubai rose on the back of gains in a few stocks.

The Dubai index climbed 0.8 percent, bouncing from a 10-week low, although"...

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09 Mar 2017

Unexplainable German double standards with Turkey and Egypt

The war of words between Turkish and German officials and diplomats started when Germany prevented Turkish Justice Minister Bekir Bozdag from holding a rally in Germany. The minister headed to Germany as part of a mobilisation and awareness campaign that started prior to the pending constitutional"...

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09 Mar 2017

Egypt to invest billions in rail infrastructure

Egypt’s minister of transport has said the country is targeting up to €14.4billion (Dh55.85bn) worth of investment in new rail and metro projects.

Speaking at Middle East Rail conference on Tuesday, Hesham"...

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