FINANCE & ECONOMY

25 Jul 2015

Ansaldo Energia signs up to gas-fired power plant conversion in Egypt

A Memorandum of Understanding (MoU) was signed by Ansaldo Energia and the Egyptian Electricity Holding Company, to cover the conversion from simple to combined cycle of the existing “6th of October” power plant on the industrial outskirts of Cairo.

Ansaldo"...

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25 Jul 2015

Improved Egypt-Israel Relations through Sinai Crisis: Will They Last?

Egyptian diplomats rarely have a good word to say about U.S. policies these days. In contrast, they are enthusiastic in their praise of the close relations between Cairo and Jerusalem—centered on counterterror security and intelligence cooperation in Sinai—and effusive in their"...

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25 Jul 2015

EconSource: Egypt to Sign Four Agreements with Italy

During his visit to Italy for the Expo Milano 2015, Egyptian Prime Minister Ibrahim Mahlab announced that Egypt will sign four agreements with Italy in the electricity, oil and petroleum, and industrial sectors. The commercial exchange between Egypt and Italy is expected to witness “remarkable growth” in the coming few years, Basil Rahmy, a member...

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25 Jul 2015

Egypt to raise 7B EGP in T-bills Sunday

The Central Bank of Egypt (CBE) on behalf of the Ministry of Finance is set to auction 7 billion EGP ($894.4 million) in treasury bills Sunday, according to the bank’s official website.


Egypt’s"...

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25 Jul 2015

Deconstructing ‘The Capital Cairo,’ Egypt’s $45-Billion Super Development

Questions abound in the wake of Egyptian Prime Minister Ibrahim Mehleb's announcement that the government will build a 700-square kilometer business and administrative center called The Capital Cairo.


"...

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25 Jul 2015

Egypt signs update to Head of Agreement with Eni after New Gas Discovery

Egypt and Eni on Friday signed an update to the head of agreement reached in March, following the recent discovery of gas reserves of up to 15 billion cubic metres in Egypt's Nile Delta region.


The"...

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25 Jul 2015

French defense minister visits Egypt after warplane deal

French Defense Minister Jean-Yves Le Drian began a two-day visit to Cairo on Saturday, days after France delivered the first batch of 24 Rafale warplanes Egypt had bought in a multi-billion-euro deal.

Le Drian, who is currently on a tour of Africa, is to hold talks with Egypt's President Abdel Fatah al-Sisi and other Egyptian officials during his trip....

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25 Jul 2015

Egypt targets economic growth of nearly 5 percent in first quarter

Investment Minister Ashraf Salman said that Egypt is targeting a GDP growth rate of 4.5 to 4.7 percent in the first quarter of 2015-2016, according to daily business Al-Borsa newspaper. Egypt also aims to attract $2 billion in foreign"...

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23 Jul 2015

20 Marsa Alam hotels close in last 3 months: Tourism Investors Association Chairman

Twenty Marsa Alam hotels have closed their doors in the last three months due to the decrease of travel movement to the area, according to Adel Rady, Chairman of the Tourism Investors Association.


Rady"...

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23 Jul 2015

Oriental Weavers, Arafa Holding reduce effect of EGP’s devaluation on pricing flexibility

A number of Egyptian export companies have reduced the effect of the Egyptian pound’s devaluation against the dollar on supporting its competitive ability against foreign products.


This"...

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