FINANCE & ECONOMY

30 Sep 2014

Coca-Cola Releases 2013/2014 Global Sustainability Report

The Coca-Cola Company today released its 11th annual Sustainability Report highlighting the progress the Coca-Cola system made in 2013 against the 2020 sustainability goals"......

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29 Sep 2014

Recommendation to nullify 20% sale of Telecom Egypt raises concerns

The Commissioners Body of the State Council recommended on Saturday that the sale of 20% of Telecom Egypt (TE) shares that took place nine years ago be nullified as Egypt attempts to restore trust in its economy. These efforts currently take the form of settling investment disputes in order to mobilise local and foreign investments to mitigate growing unemployment...

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29 Sep 2014

Electricity ministry imports 2.4m light bulbs inconsistent with electricity network: Official

A senior official at the Ministry of Electricity stated that 2.4m LED light bulbs that do not conform with Egypt’s national electricity network specifications will be imported as part of a tender to import 10m LED light bulbs which the ministry plans to supply to the local market.

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29 Sep 2014

Government considers offering international tender for Maspero development

The government is considering offering an international tender to establish an overall scheme for developing the Maspero area in Cairo under the supervision of the minister of housing, utilities and urban development, according to Prime Minister Ibrahim Mehleb.


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29 Sep 2014

Eni Looks Past Uncertainty in Egypt

As Cairo continues its push towards reviving Egypt’s energy sector and moving towards some much needed sector security, a few international firms are looking past the country’s uncertainty and expanding their footprint in the region. This past week, Italy’s Eni announced"...

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29 Sep 2014

Egypt's Eastern Tobacco reports 20% profit hike in FY 2013/14

Egypt's cigarette monopoly sees net profits of LE908.4 million in fiscal year ending in June 2014.

Egyptian cigarette monopoly Eastern Tobacco saw its revenues rise 20.4 percent in the fiscal year ending on 30 June, compared to the same period the previous year, the bourse announced on Sunday.

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29 Sep 2014

UPDATE 1-UAE's Dana Gas wins gas exploration deals in Egypt

United Arab Emirates energy firm Dana Gas said on Monday that it had been awarded exploration deals for two onshore gas blocks in Egypt.


The"......

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29 Sep 2014

Lavrov appreciates Egypt’s role in settling conflicts in MidEast and Northern Africa

Russian Foreign Minister Sergey Lavrov praised Egypt’s increasing role in the settlement of conflicts in the Middle East and Northern Africa, the Russian Foreign Ministry said on Saturday.

Lavrov met his Egyptian counterpart Sameh Hassan Shoukry on the sidelines of the 69th"...

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29 Sep 2014

New factory could allow Egypt to start exporting petrochemicals to Europe

A new state-owned ethylene factory due to start production in Alexandria next year could save Egypt about $500 million on annual imports and allow it to begin exporting petrochemicals to Western Europe and Africa, its chairman said.

The factory, operated by Egyptian Ethylene and Derivatives Company (ETHYDCO), a joint venture formed by three state-run...

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