FINANCE & ECONOMY

14 Apr 2014

Sawiris says ready to invest $1bn-$2bn in Telecom Italia: Paper

Egyptian billionaire Naguib Sawiris is ready to invest $1bn to $2bn in Telecom Italia if its biggest shareholder Telefonica pulled out from the Italian phone group, according to newspaper Il Sole 24 Ore. Sawiris, who unsuccessfully attempted to buy a stake in Telecom Italia in 2012, criticised the presence of the Spanish group because of conflicting interests...

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14 Apr 2014

US, Egypt re-affirm keenness on close ties

The United States and Egypt have re-affirmed their joint desire to maintain close relations.

This came during a telephone contact between U.S. Secretary of Defense Chuck Hagel with Egyptآ’s new Defense Minister, Colonel General Sedki Sobhy, late on Sunday, according to a statement by the Pentagon Press Secretary John Kirby.

Both leaders...

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14 Apr 2014

Egypt's stocks down on profit taking

Listed stock turnover under LE600 million in a session defined by weak trading value, as buyers sold for profit taking.

Egypt’s main index slightly declined on Sunday, but in a session marked by weak trading value.

The EGX30 fell 0.31 percent to record 7,875 points.

...

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14 Apr 2014

The Nile needs you! It's a great time to book a river cruise and help the people of Egypt

With Egypt staggering from one crisis to the next, why would anyone take a Nile cruise? The answer is simple: the ancient wonders are as amazing as ever, there has never been a better"...

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14 Apr 2014

UMSC pleased with Egypt scholarships

The Mufti of Uganda, Sheikh Shaban Ramadhan Mubaje, has commended the Egyptian government for continued support to Ugandan students at Al Azhar University in Cairo.


Egypt offers scholarships to 26 students in"......

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14 Apr 2014

Add this to the list: Urbanization could be one of the biggest challenges for Egypt's next president

The most severe problems usually arise due to ignorance of their causes or their being disregarded, despite knowledge about them. Anyone who closely follows residential development in Egypt must realise that there is a pressing issue, represented in the need of the Egyptian rural youth for urbanization,"......

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13 Apr 2014

EU contributes €57m to improve Egypt’s water systems

The European Union announced that it will implement a number of water sector projects in Egypt that will benefit the Ministry of Housing and the Holding Company for Water and Waste Water, during a workshop Wednesday at the EU Delegation"...

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13 Apr 2014

Ministry of Industry launches tyre retreading project

The Ministry of Industry and Foreign Trade will start refurbishing and reusing heavy truck tyres, Minister Mounir Fakhry Abdel Nour announced Wednesday in an official statement. The project, a joint effort of the Industry Council for Technology and Innovation, the Trade Union Federation, and the University of Rostock in Germany, is expected to increase the productivity...

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13 Apr 2014

Wheat bought by Egypt’s GASC stuck in Russian port: Traders

Two wheat cargoes purchased by top global wheat buyer Egypt are stuck at Russia’s Novorossiisk port, after the trade house selling the grain had problems opening the importer’s letters of credit, traders said. Egypt’s state wheat buyer the General Authority for Supply Commodities (GASC) bought the two 60,000-tonne shipments from global commodities...

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13 Apr 2014

Egypt’s real estate prices expected to increase by 15% in 2014

The prices of Egypt’s property units will increase by 15% in 2014, Executive Chairman of international real estate brokerage firm Coldwell Banker New Homes Khalid Bahig said on Thursday. A high demand on property units, the hike in the prices of construction materials and the strength in the value of the Egyptian pound against the US dollar are the reasons...

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