FINANCE & ECONOMY

08 Jul 2014

EGAS, Sonatrach negotiating over 5 LNG shipments for electricity production

The Egyptian Natural Gas Holding Company (EGAS) and Algerian company Sonatrach are currently in negotiations for the latter to provide five shipments of liquefied natural gas (LNG) for electricity production over the summer months.


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08 Jul 2014

Cement production to be impacted by energy cuts and higher fuel prices

Oxford Business Group has raised concerns over the impact of the inadequate supplies of natural gas on the cement industry, after several firms were forced to halt production after the Egyptian Natural Gas Holding Company (EGAS) stopped the flow of gas to 10 plants, which account for two-thirds"...

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08 Jul 2014

Travel Corp watches Egypt ahead of planned return

The Travel Corporation continues to monitor the situation in Egypt in advance of its proposed September return to the destination, as ongoing civil unrest places question marks over an imminent tourism recovery.


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08 Jul 2014

Recent economic decisions bitter cure for Egypt - Pres.

Egyptian President Abdelfatah Al-Sisi on Monday described the recent economic decisions as "a bitter cure" for saving the economy and serving the interests of the citizens.

He said in an address to the nation on the occasion of the Ramadan 10th anniversary, the decision to ratchet up prices in order to offset the curtailment of subsidy may not be suitable...

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08 Jul 2014

BNP Sees Egypt Yield Surge Fading as Deficit Eases: Arab Credit

The increase in Egypt’s borrowing costs after President Abdel-Fattah El-Sisi raised energy prices will be short-lived because the measures will help narrow the budget deficit, BNP Paribas Egypt and Capital Economics said.

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08 Jul 2014

Nestlé Egypt launches wellness campaign

Nestlé Egypt, a leading nutrition, health and wellness company, is sponsoring a lifestyle transformation challenge in Cairo as a part of its campaign to encourage its consumers to eat healthier and exercise in order to enjoy better health.

For the next two months, 20 women aged between 25 and 40 will be participating in the challenge entitled...

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08 Jul 2014

Egypt requests funding for FMS program support

The U.S. State Department has approved a U.S. Foreign Military Sales deal for Egypt for support of U.S. government and contractor personnel in the country.

The personnel -- 140 in all -- are at nine locations in Egypt in support of earlier Egyptian procurement of U.S. military equipment"...

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08 Jul 2014

Egypt President seeks people’s support

Egypt’s President Abdel Fattah Al-Sisi has asked people to support a recent decision to raise petrol prices, saying it is only with their participation that the government can accomplish the toughest tasks.


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08 Jul 2014

QNB: Financial Results for the Six Months Ended 30 June 2014

QNB Group, one of the World’s Strongest Banks and the leading bank in the Middle East and North Africa, announced its results for the six months ended 30 June 2014.


For the six months of 2014, Net Profit was QR5.1 billion (USD1.4 billion), up by 7.0% compared to last year.

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08 Jul 2014

Braun and Sebastian Vettel start a new wave of shaving: with BRAUN WaterFlex

Today, Braun and quadruple Formula 1 champion Sebastian Vettel launch a new wave of shaving with Braun WaterFlex – Braun’s latest innovation fully designed and engineered to explore shaving with water, foam and gel, transforming an electric shave into a whole new sensorial experience.

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