FINANCE & ECONOMY

18 Jun 2018

Egypt's Suez canal reports record high $5.585bln annual revenue

Egypt's revenue from the Suez Canal for the 2017-2018 financial year rose 11.5 percent to a record high $5.585 billion, the canal authority said in a statement on its website on Sunday.

Revenue"...

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18 Jun 2018

Egypt's finance ministry dispenses EGP 1.5 bn to fund energy-saving street-lighting project

Egypt’s finance ministry dispensed EGP 1.5 billion for the national project to install energy-saving bulbs on street lamposts, the ministry announced on Sunday.

'The project to upgrade the street lighting"...

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18 Jun 2018

Egypt raises fuel prices as part of new austerity measures

Egypt has announced new hikes on fuel prices as part of austerity measures tied to an IMF loan as it seeks to cut subsidies and reduce its public debt, AFP reported.

The price hikes of between 35 and 50 percent"...

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18 Jun 2018

Egyptian professor becomes Munich University’s media department dean

Egyptian professor and accomplished academic Mohamed Badr has been chosen as the dean of Munich University’s media faculty, announced the German Embassy in Cairo on Wednesday.

Badr, 39, is the youngest expatriate"...

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18 Jun 2018

Ministry of Finance pays LE 1.5 billion to install energy-conserving headlights

The Ministry of Finance stated on Sunday that a disbursement of LE 1.5 billion will finance the first and second phases of a plan to install new energy-conserving headlights to replace the current ones in Egypt’s streets.

The"...

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18 Jun 2018

Transport Ministry to launch mobile app for ticketing service and smart cards

The Transportation Ministry on Sunday announced that it is preparing to launch a new railway booking service, via electronic payment or Visa Card, and will also release a mobile phone app allows citizens to inquire about the dates of trains and available places to reserve seats.

...

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18 Jun 2018

Irrigation Ministry to establish walkway areas and anchors on Nile River

Minister of Irrigation and Water Resources Mohamed Abdel Ati announced on Sunday that the ministry has prepared a comprehensive study of walkway areas in governorates bordering the Nile River in preparation for its “Mamsha ahl Masr” (Walkway for the people of Egypt) project.

"...

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17 Jun 2018

Week-long art show in Sharjah captivates visitors

A group exhibition of paintings by 38 artists based in the UAE is under way at the IRC Art Gallery, Egyptian Trade Centre, Sharjah. The artists have been participating in the week-long Ramadan Night Exhibition.

Besides a number of Emirati artists’ artworks as part of"...

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17 Jun 2018

What could possibly annoy Egyptian elites?

Over the past few months, the most heated topic of discussion among Egyptian elites has been the growing number of street cats in their exclusive social clubs. Many of our elites are engaged in a lively debate about whether it is better to get rid of these cats (and risk increasing the"...

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17 Jun 2018

Dhanukas team up with Indian friend Indorama Ventures to revive Egyptian JV

The Dhanukas of the Dhunseri Group has roped in their Indian joint venture partner Thailand's Indorama Ventures to resuscitate the former's Egyptian venture, Egyptian Indian Polyester Company S.A.E (EIPET). Group company Dhunseri PetrochemNSE 4.51 % (DPL) is offloading 50% of the"...

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