FINANCE & ECONOMY

18 Jan 2017

Egypt's Commercial Office reaches €35bln-export deals with Cyprus

Egypt's commercial services office in Cyprus provided 25 export contracts estimated at €35 million during 2016, Head of Egyptian Commercial Services Office (ECS), Ahmed Antar said Tuesday.

Antar added that the"...

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18 Jan 2017

GAFI: 24 Portuguese firms invest $2mln in Egypt

Portugal occupied the 89th place among states investing in Egypt as Portuguese investments are estimated at US$2 million, Egyptian investment authority announced Wednesday.

CEO of Egypt's General Authority for Investment"...

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18 Jan 2017

10 killed as microbus overturns into canal in Egypt

At least 10 people were killed and two others wounded Wednesday when a microbus overturned into a canal in Egypt's Daqahliya province north of Cairo, reported the state-run Al-Ahram news website.

In the early morning"...

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18 Jan 2017

Feature: In Egypt, works continue to partially open long-awaited civilization museum

In the heart of Egypt's ancient Islamic capital near Cairo, the National Museum of Egyptian Civilization (NMEC), the first museum of civilization in the Arab world, will partially open within weeks.

The museum will"...

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18 Jan 2017

Ajman Ruler receives Consul-General of Egypt

H.H. Sheikh Humaid bin Rashid Al Nuaimi, Supreme Council Member and Ruler of Ajman, today received Tariq Abdulhamid Hussein, Consul-General of the Arab Republic of Egypt, who came to pay a courtesy visit to H.H. at the beginning of his tenure in the country.

The"...

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18 Jan 2017

Egypt refers 304 members of Hasam movement to military prosecutor - Agency

Egypt's state prosecutor has referred on Wednesday 304 members of Hasam movement to military prosecutors, reported state-run MENA news agency.

The defendants face charges of belonging to Hasam militant movement,"...

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18 Jan 2017

High school exam booklets will eliminate risk of leaks and correction errors: Egypt parliamentary committee

Egypt’s new national high school (Thanaweya Amma) booklet exam system will reduce the possibility of errors occurring in the correction process and eliminate the risk of exam leaks, Gamal Shiha, the chairman of parliament’s Education and Scientific Research Committee, said on Wednesday.

"...

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18 Jan 2017

Egypt to end capital controls, reform oil sector in IMF deal

Egypt will scrap its remaining caps on transfers and deposits of foreign currency by the end of June and overhaul its oil sector as part of ambitious efforts to reform the economy under an IMF agreement, the details of which were released yesterday.
The International Monetary Fund approved the three-year programme with Egypt in November, releasing the first...

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18 Jan 2017

Egypt Confirms VAT Hike This Year

The Government of Egypt has confirmed a plan to increase the rate of value-added tax later this year under a series of revenue-raising measures. Finance Minister Amr El-Garhy announced earlier this week that the VAT rate would increase by one percent to 14 percent in July 2017 as the Government seeks additional revenue to cover a large budget deficit. Previously...

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18 Jan 2017

Egypt's pound devaluation pummels real estate sector

The flotation of the Egyptian pound has caused challenges for real estate stakeholders throughout 2016, according to the 2016 Cairo Real Estate overview report recently released by real estate firm Jones Lang LaSalle (JLL). The"...

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